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Online Quiz (Worksheet A B C D)

Questions Per Quiz = 2 4 6 8 10

MEAP Preparation - Grade 7 Mathematics
1.115 Profit and Loss Word Problems - II


Directions: Answer the following qustions. Also write at least five examples of your own.
Q 1: Peter purchased a cow for $2,250. If he wants to gain 25%, what should be his selling price?
$3000.00
$2,875.25
$2,812.50
$2,585.50

Q 2: Jack purchased a refrigerator for $8,000. Due to transfer to a far-off place, he had to sell it for a loss of 15%. What was his selling price?
$6,800
$6,375
$6,500
$6,236

Q 3: A trader purchased 1,000 books at the rate of $5.40 per book and spent $200 towards transportation. If he wants to earn a profit of 12 1/2%, at what price should he sell each book?
$6.30
$7.60
$8.45
$5.50

Q 4: A rice merchant purchased 50 bags of rice at $300 per bag. He spent $500 towards transportation. Due to lack of demand for rice, he incurred a loss of 30%. At what price did he sell each bag of rice?
$295
$317
$217
$238

Q 5: Bobby purchased pens at the rate of $42 per dozen. If he earned a profit of 14 2/7% by selling them on eBay. What was his selling price per dozen?
$50
$52
$46
$48

Q 6: Linda sold two books at $15 each on eBay -- profit on one was 25% and loss on the other was 25%. How much did she gain or lose overall?
6 1/4% gain
no profit or loss
5 3/4% loss
6 1/4% loss

Q 7: A business man sold two luxury cars each for $99,000. He made profit of 10% on one and a loss of 10% on the other. Find his overall loss or gain percent?
0% profit
1% loss
1.5% loss
1% gain

Q 8: A mechanic purchased two motor bikes for $7,500 and $6,000 respectively. He sold the first one for a profit of 15% and the second bike for a loss of 20%. How much did he lose or gain on both the transactions together?
$75 loss
$75 profit
$60 loss
$80 profit

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Question 10: This question is available to subscribers only!


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