Class 8 Profit and Loss — practice questions with answers
Comparing Quantities · 5 sample questions from the school syllabus. Try each one, then open the answer and the worked solution.
1. When the selling price (SP) of an article is more than its cost price (CP), the profit equals:
- ASP − CP
- BSP ÷ CP
- CSP + CP
- DCP − SP
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Answer: A) SP − CP
Profit = selling price − cost price, when SP > CP. CP − SP is the loss, used when SP < CP.
2. The bars compare the cost price and selling price of a pressure cooker. All the small parts are equal. If CP = ₹750, what is the SP?
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Answer: A) ₹900
CP is 5 parts, so 1 part = 750 ÷ 5 = ₹150. SP is 6 parts = ₹900 (a profit of 1 part, i.e. 20%).
3. A shopkeeper loses ₹36 by selling a toy for ₹864. What is his loss per cent?
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Answer: A) 4%
CP = SP + loss = 864 + 36 = ₹900. Loss % = 36 ÷ 900 × 100 = 4%.
4. Aman sells a fan for ₹540 at a 20% profit. He works out CP = 540 − 20% of 540 = ₹432. What is the correct cost price?
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Answer: D) ₹450
The 20% is on CP, not SP. SP = 120% of CP → CP = 540 ÷ 1.2 = ₹450. Check: 20% of 450 = 90 and 450 + 90 = 540.
5. A man sells a radio at a 10% profit. Had he bought it for 10% less and sold it for ₹4 less, he would have gained 20%. Find the cost price.
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Answer: B) ₹200
Let CP = c. SP = 1.1c. New CP = 0.9c, new SP = 1.2 × 0.9c = 1.08c. Also new SP = 1.1c − 4. So 1.1c − 1.08c = 4 → 0.02c = 4 → c = ₹200.