Profit & Loss Questions with Answer

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Calculating Profit

Q: A boy buys a toy for $15 and sells it for $20. Find the profit.

Solⁿ:

Profit = Selling Price − Cost Price
Profit = 20 − 15
Profit = $5

Ans: Profit = $5

2. Calculating Loss

Q: A girl buys a book for $12 and sells it for $8. Find the loss.

Solⁿ:

Loss = Cost Price − Selling Price
Loss = 12 − 8
Loss = $4

Ans: Loss = $4

3. Profit Percentage

Q: Cost Price = $50, Selling Price = $60. Find Profit Percentage.

Solⁿ:

Profit = 60 − 50 = 10

Profit % = (Profit ÷ Cost Price) × 100
= (10 ÷ 50) × 100
= 0.2 × 100
= 20%

Ans: 20% Profit

4. Finding Cost Price

Q: Selling Price = $30, Profit = $5. Find Cost Price.

Solⁿ:

Cost Price = Selling Price − Profit
Cost Price = 30 − 5
Cost Price = $25

Ans: $25

5. Extra Practice (Mixed)

Q: A pen is bought for $10 and sold for $13. Find profit.

Solⁿ:

Profit = 13 − 10 = $3

Ans: $3