Worksheet: Profit & Loss

# Worksheet: Profit & Loss | Mental Maths - Class 1 PDF Download

### Q1: Multiple Choice Questions (MCQs)

(i) A shopkeeper bought an item for Rs. 200 and sold it for Rs. 250. What is the profit percentage?
(a) 20%
(b)
25%
(c)
30%
(d)
35%

(ii) If a product is marked at Rs. 500 and sold at a 10% discount, what is the selling price?
(a)
Rs. 450
(b) Rs. 460
(c) Rs. 470
(d) Rs. 480

(iii) A shopkeeper sells a bicycle for Rs. 8000 and gains 20% profit. What was the cost price?
(a) Rs. 6000
(b) Rs. 6500
(c) Rs. 6600
(d) Rs. 6700

(iv) A man bought a TV for Rs. 25000 and sold it at a 5% loss. What was the selling price?
(a) Rs. 23500
(b) Rs. 24000
(c) Rs. 24750
(d) Rs. 25000

(v) A pen costs Rs. 60 after a 20% discount. What is the marked price?
(a)
Rs. 70
(b) Rs. 72
(c) Rs. 75
(d) Rs. 80

### Q2: True/False

(i) If the cost price is Rs. 100 and the selling price is Rs. 110, then the profit percentage is 10%.

(ii) Selling an item at a price lower than its cost price always results in a profit.

(iii) The discount percentage is calculated based on the selling price.

(iv) If a shopkeeper sells an item at a loss, then the selling price is less than the cost price.

(v) Marked price and selling price are always the same.

### Q3: Answer the Following Questions

(i) Calculate the loss percentage if the cost price is Rs. 150 and the selling price is Rs. 120.

(ii) If a seller gains 15% profit on selling an article for Rs. 690, find the cost price.

(iii) A product is marked at Rs. 2000 and sold for Rs. 1800. What is the discount percentage?

(iv) What is the selling price if a shopkeeper wants to gain 25% profit on an item whose cost price is Rs. 400?

(v) A man buys a book for Rs. 300 and sells it for Rs. 270. Calculate the loss and loss percentage.

The document Worksheet: Profit & Loss | Mental Maths - Class 1 is a part of the Class 1 Course Mental Maths.
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## Mental Maths

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## FAQs on Worksheet: Profit & Loss - Mental Maths - Class 1

 1. What is the difference between gross profit and net profit?
Ans. Gross profit is the total revenue minus the cost of goods sold, while net profit is the gross profit minus all other expenses, including operating costs, taxes, and interest.
 2. How can a business increase its profit margin?
Ans. A business can increase its profit margin by increasing sales revenue, reducing costs, improving operational efficiency, and raising prices strategically.
 3. What are some common expenses that can impact a company's profit and loss statement?
Ans. Some common expenses that can impact a company's profit and loss statement include salaries and wages, rent, utilities, marketing costs, inventory expenses, and taxes.
 4. How does depreciation affect a company's profit and loss statement?
Ans. Depreciation is a non-cash expense that reduces a company's reported profits on the income statement. It reflects the gradual decrease in value of a company's assets over time.
 5. What is the significance of analyzing a company's profit and loss statement?
Ans. Analyzing a company's profit and loss statement helps stakeholders understand the financial health of the business, identify areas of strength and weakness, make informed decisions, and plan for future growth and profitability.

## Mental Maths

30 videos|64 docs|19 tests

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