Practice Important Formulae (2.3) - Commercial Mathematics

Practise this section

9 questions

Flashcard drill
4 cards from this section. Quick, good the night before a test.
Exercise
6 questions · about 4 min · pass mark 70%. Hints available.
Sign up to start the exercise
Quiz
3 questions · about 2 min · pass mark 70%. Hints available.
Sign up to start the quiz

6 sample questions

Question 1.
If an item is bought for $30 and sold for $50, what is the profit?
Show hintHide hint
Use the formula Profit = S.P. - C.P.
Question 2.
What is the cost price if the selling price is $80 and profit is $40?
Show hintHide hint
Use the formula C.P. = S.P. - Profit.
3Question 3.
What is the formula for calculating profit percentage?
- \$\\frac{Profit}{C.P.} \\times 100\$
- \$\\frac{C.P.}{Profit} \\times 100\$
- \$\\frac{S.P.}{C.P.} \\times 100\$
Show hintHide hint
Recall how profit relates to cost price.
4Question 4.
If the selling price is $120 and the cost price is $100, what is the profit?
Show hintHide hint
Remember the profit formula.
Question 5.
A bike is bought for $800 and is sold at a loss of 15%. Calculate the selling price and the actual loss incurred.
Show hintHide hint
Use loss formulas to derive both values.
Question 6.
An item is marked at $600, and a discount of 20% is offered. Calculate the selling price after applying the discount. If the cost was $500, what profit or loss occurs?
Show hintHide hint
Calculate the discount first, then use the selling price to find profit or loss against the cost price.

5 more questions in this section. Enroll free to practise them all.