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Maths I

Numbers and Money

# Profit and loss - Test

1.

Mr and Mrs McKay bought three rugs for £30 and sold them for £18 each. How much profit did they make on them?

2.

Paul owns a shop, and sells packets of cotton wool for £1.20 each. Paul buys a box containing 50 packets of cotton wool for £45. He sells 43 of these packets. What profit, if any, does he make?

3.

Matthew tried to sell a new kind of kitchen cleaner in his shop. He bought a box of 20 bottles for £15. He sold them at 95p each, but only sold 2 bottles. He then reduced them and sold 6 bottles at 85p. Calculate the loss that the shop made on the kitchen cleaner.

4.

A shop sells a magazine for £2.10 which the owner pays £2 for. Calculate the percentage profit that they make on the magazine.

5.

Mr and Mrs Jones pay £80 for a picture and frame. They sell the frame for £60, but cannot sell the picture. Calculate the percentage loss that they make.

6.

A man buys a car for £4000 and sells it for £4600. Calculate the percentage profit.

7.

A grocer buys bananas at 20p per pound but after the fruit are spoiled he has to sell them at only 17p per pound. Calculate the percentage loss.

8.

Before cooking, a joint of meat weighs 2.5 kg. After cooking, the same joint of meat weighs only 2.1 kg. Calculate the percentage decrease in the weight of the meat.

9.

When cold an iron rod is 200cm long. After being heated, the length increases to 200.5cm. Calculate the percentage increase in the length of the rod.

10.

A shopkeeper buys jumpers for £6.20 and sells them for £9.99. Calculate the percentage profit correct to 1 decimal place.