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Profit, Loss and Discount — Practice Quiz

ICSE · Class 7 · Mathematics

Try a 4-question quiz on Profit, Loss and Discount for ICSE Class 7 Mathematics: tap an answer to check it and see why.

92 questions22 flashcards3 formulas & key relations5 concepts

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Quick Quiz: Profit, Loss and Discount

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1

Rohit bought an article for ₹2,400 and spent ₹100 on transportation. He sold it for ₹3,000. What is his profit percent?

2

Rani bought an old machine for ₹4,800 and spent ₹1,200 on repairs. She sold it for ₹5,400. What is her loss or gain percent?

3

A shopkeeper buys 50 pencils for ₹80 and sells 40 pencils for ₹90. What is his gain percent?

4

An article is bought for ₹5,700 and ₹1,300 is spent on repairing and transportation. It is sold to gain 20% on the whole. What should be the selling price?

92 Questions·
multiple choicemultiple correct

Sample Questions

1multiple choice
3 marks

A dealer marks a T.V. set at ₹9,000 and gives a discount of 20%. What is the selling price?

Show answer

₹7,200

Step 1: Find the discount. Discount = 20% of ₹9,000 = (20 / 100) × 9000 = ₹1,800. Step 2: Subtract discount from marked price. S.P. = ₹9,000 - ₹1,800 = ₹7,200. So the correct answer is ₹7,200.

2multiple choice
3 marks

An article is marked at ₹155 and sold for ₹124. What is the discount percent?

Show answer

20%

Step 1: Find the discount. Discount = ₹155 - ₹124 = ₹31. Step 2: Find discount percent. Discount % = (31 / 155) × 100 = 20%. So the correct answer is 20%.

3multiple choice
3 marks

A trader bought 12 eggs for ₹16. At what price per egg should he sell them to gain 50%?

Show answer

₹2.00

Step 1: Find gain on 12 eggs. Gain = 50% of ₹16 = (50 / 100) × 16 = ₹8. Step 2: Find total selling price of 12 eggs. S.P. = ₹16 + ₹8 = ₹24. Step 3: Find selling price of 1 egg. ₹24 ÷ 12 = ₹2. So the correct answer is ₹2.00.

4multiple choice
3 marks

By selling an article for ₹270, a loss of 10% is suffered. What is the cost price?

Show answer

₹300

Step 1: If loss is 10%, then S.P. is 90% of C.P. Step 2: So ₹270 = 90% of C.P. Step 3: C.P. = 270 × 100 / 90 = ₹300. So the correct answer is ₹300.

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Frequently Asked Questions

What are the important topics in Profit, Loss and Discount for ICSE Class 7 Mathematics?
Key topics in Profit, Loss and Discount include Core Ideas and Definitions, Finding Profit or Loss Percent, Finding Selling Price from C.P. and Profit or Loss Percent, Equal Quantity Questions and Extra Costs. Study these first, then practise questions on each for Class 7 exams.
How many practice questions are there for Profit, Loss and Discount?
There are 92 questions on Profit, Loss and Discount. Try the 4-question sample quiz on this page first; each answer shows an explanation when you tap it.

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