Practice - Profit and Loss Calculations
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Practice Questions
Test your understanding with targeted questions
Calculate the profit when an item is bought for $50 and sold for $70.
💡 Hint: Subtract the cost price from the selling price.
Find the loss if you buy a jacket for $30 and sell it for $20.
💡 Hint: Again, subtract the selling price from the cost price for loss.
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What is profit?
💡 Hint: Think about what profit means financially.
If a product is bought for $500 and sold for $600, what is the profit percentage?
💡 Hint: Remember the profit percentage formula.
1 more question available
Challenge Problems
Push your limits with advanced challenges
A grocery store bought 500 apples for $0.50 each and sold them for $0.75 each. Calculate total profit, profit percentage, and what changes if they increase the price to $1.00 in the future.
💡 Hint: Calculate the total cost and total selling price first.
A company suffers a loss of 15% on an items sold for $340. What was the original cost price? Calculate the new selling price required to break even.
💡 Hint: Use the loss formula to work backward.
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