kwizNET Subscribers, please login to turn off the Ads!
Email us to get an instant 20% discount on highly effective K-12 Math & English kwizNET Programs!

Online Quiz (Worksheet A B C D)

Questions Per Quiz = 2 4 6 8 10

MEAP Preparation - Grade 7 Mathematics
1.114 Profit and Loss Word Problems - I


Directions: Answer the following qustions. Also write at least five examples of your own.
Q 1: A store owner purchased a gross of pencils for $216 and sold each pencil for $1.75. How much profit or loss did he make? (Hint : gross = 144)
$28 loss
$36 loss
$28 profit
$36 profit

Q 2: By selling a school-bag for $30, the seller loses $4. What is the cost price of the bag?
$34
$43
$26
$36

Q 3: Kate purchased a bicycle for $1150. After using it for a year, she sold it for $950, what was her percentage gain or loss ?
50% loss
35 3/4% loss
17 9/23% gain
17 9/23% loss

Q 4: A vegetable vendor purchased 100 lbs of onions for $200 and sold them at $1.75 per lb. Did he make profit or loss?
insufficient information
broke even
profit
loss

Q 5: Harry purchased a computer for $1500 and after using it for a year, he sold it for $1150. What is his percentage of loss or gain?
19 7/8% loss
25 1/4% gain
23 1/3% gain
23 1/3% loss

Q 6: A vendor bought 500 eggs at $4 per 10 eggs. Of these, 50 eggs were found to be broken. If he sold the remaining eggs at $0.55 per egg, how much did he gain or lose?
31 1/2% loss
21 3/4% profit
23 3/4% profit
23 3/4% loss

Q 7: Elizabeth purchased a home for $75,000 and a home site for $15,000. If she sold the home for $83,000 and the site for $11,000, how much percentage profit or loss did she make on both the transactions together?
3 4/5% loss
4 4/9% loss
5 1/4% profit
4 4/9% profit

Q 8: A store owner purchased a ream of paper for $50 and sold it in retail at $5.50 per quire. How much profit or loss did she make? (Hint: one ream = 20 quire)
$50 loss
$60 loss
$50 profit
$60 profit

Question 9: This question is available to subscribers only!

Question 10: This question is available to subscribers only!


Subscription to kwizNET Learning System offers the following benefits:

  • Unrestricted access to grade appropriate lessons, quizzes, & printable worksheets
  • Instant scoring of online quizzes
  • Progress tracking and award certificates to keep your student motivated
  • Unlimited practice with auto-generated 'WIZ MATH' quizzes
  • Child-friendly website with no advertisements
  • Choice of Math, English, Science, & Social Studies Curriculums
  • Excellent value for K-12 and ACT, SAT, & TOEFL Test Preparation
  • Get discount offers by sending an email to discounts@kwiznet.com

Quiz Timer