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Profit, Loss and Discount

ICSE · Class 7 · Mathematics

Practice quiz for Profit, Loss and Discount — ICSE Class 7 Mathematics. MCQs and questions with answers to test your preparation.

92 questions22 flashcards5 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?
Profit, Loss and Discount covers several key topics that are frequently asked in ICSE Class 7 board exams. Focus on the core concepts listed on this page and practise related questions to build confidence.
How to score full marks in Profit, Loss and Discount — ICSE Class 7 Mathematics?
Understand the core concepts first, then work through the 92 practice questions available for this chapter. Revise formulas and definitions regularly, and use flashcards for quick recall before the exam.

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Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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