Profit Loss Class 7 RS Aggarwal Exe-10B MCQs Goyal Brothers ICSE Foundation Mathematics Solutions. We provide step by step Solutions of lesson/ Chapter-10 Profit Loss for ICSE Class-7 Foundation RS Aggarwal Mathematics of Goyal Brothers Prakashan to develop skill and confidence. Visit official Website CISCE for detail information about ICSE Board Class-7 Mathematics
Profit Loss Class 7 RS Aggarwal Exe-10B MCQs Goyal Brothers ICSE Maths Solutions
| Board | ICSE |
| Publications | Goyal brothers Prakashan |
| Subject | Maths |
| Class | 7th |
| Chapter-10 | Profit Loss |
| Writer | RS Aggrawal |
| Book Name | Foundation |
| Topics | Solution of Exe-10B MCQs |
| Academic Session | 2024 – 2025 |
Profit Loss MCQs
Class 7 RS Aggarwal Exe-10B Goyal Brothers ICSE Foundation Mathematics Solutions
Multiple Choice Questions
Choose the correct option in each of the following:
Que-1: There is a gain if
(a) C.P.>S.P.
(b) C.P.=S.P.
(c) C.P.<S.P.
(d) C.P.+S.P.=0
Answer- option (c) is correct
Que-2: Loss% is equal to
(a) {(C.P.-S.P.)/C.P.*100}%
(b) {(S.P.-C.P.)/C.P.*100}%
(c) {(C.P.-S.P.)/S.P.*100}%
(d) {(S.P.-C.P.)/S.P.*100}%
Answer- option (a) is correct
Que-3: Gain or Loss is always reckoned on
(a) S.P.
(b) C.P.
(c) S.P.-C.P.
(d) S.P.+C.P.
Answer- option (b) is correct.
Que-4: A book is bought for rs 80% and sold for rs 100 by a vendor. His gain percent is
(a) 20%
(b) 22*1/2
(c) 25%
(d) 33*1/3
Answer- option (c) is correct.
Reason: C.P. of book = rs 80
S.P. = rs 100
gain = S.P.-C.P.
=100-80=20
Gain% = gain*100/C.P.
= 20*100/80
Gain% = 25% Ans.
Que-5: On selling a chocolate for RS 105, the shopkeeper loses RS 15. his loss percent is
(a) 10%
(b) 12*1/2%
(c) 15%
(d) 14*2/7%
Answer- option (b) is correct.
Reason: S.P. of chocolate = RS 105
Loss = RS 15
C.P. = S.P.+Loss
= 105+15=120
Loss% = Loss*100/C.P.
= 15*100/120
= 25/2% = 12*1/2% Ans.
Que-6: On selling a pair of shoes for RS 720, the shopkeeper gain 20%. The cost price of the shoes is
(a) RS 600
(b) RS 640
(c) RS 650
(d) RS 690
Answer- option (a) is correct.
Reason: S.P. of shoes = RS 720
Gain% = 20%
C.P. = S.P.*100/(100+gain)
= 720*100/120
C.P. = RS 600 Ans.
Que-7: If the cost price of 15 chairs be equal to the selling price of 20 chairs, the loss percent is
(a) 20%
(b) 25%
(c) 35%
(d) 37.5%
Answer- option (b) is correct.
Reason: Let C.P. of 15 chairs = RS 100
S.P. of 20 chairs = RS 100
C.P. of 1 chair = 100/15
= RS 20/3
S.P. of 1 chair = 100/20
= RS 5
Loss = C.P.-S.P.
= 20/3 – 5
= (20-15)/3 = RS 5/3
Loss% = (5/3*100)20/3
= (5*100*3)/3*20
Loss% = 25% Ans.
Que-8: If the cost price of 15 pens is equal to the selling price of 12 pens, the gain percent is
(a) 12*1/2%
(b) 15%
(c) 20%
(d) 25%
Answer- option (d) is correct.
Reason: C.P. of 15 pens = S.P. of 12 pens
= Let RS 60
C.P. of 1 pen = RS 60/15
=RS 4
S.P. of 1 pen = RS 60/12
= RS 5
Gain = S.P.-C.P.
= RS 5-4 = 1
Gain% = Gain*100/C.P.
= 1*100/4
Gain% = 25% Ans.
Que-9: By selling a bag for RS 465, a man loses 7%. To gain 7%, it must be sold for
(a) RS 511
(b) RS 525
(c) RS 531
(d) RS 535
Answer- option (d) is correct.
Reason: S.P. of a bag = RS 465
Loss% = 7%
C.P. = (S.P.*100)/(100-Loss%)
= 465*100/93
= RS 500
Gain = 7%
S.P. = C.P.*(100+gain%)/100
= 500*107/100
= RS 535 Ans.
Que-10: On selling a photo frame for RS 144, a shopkeeper loses 1/7 of his outlay. If it sell for RS 189, the gain percent will be
(a) 12.5%
(b) 25%
(c) 30%
(d) 36%
Answer- option (a) is correct.
Reason: S.P. of a photo frame = RS 144
Loss = 1/7
Let C.P. be = RS x
S.P. = x-1/7 = 6x/7
= 144 = x = 144*7/6
= RS 168
If it is sold at = RS 189
Gain = S.P.-C.P.
= 189-168 = RS 21
Gain% = Gain*100/C.P.
= 21*100/168
= 25/2% = 12.5% Ans.
Mental Maths
Profit Loss Class 7 RS Aggarwal Exe-10B Goyal Brothers ICSE Foundation Mathematics Solutions
Que-1: Fill in the blanks :
(i) Net C.P. of an article = Actual C.P. + ________.
Answer- overhead expenses
(ii) If S.P.<C.P., then the seller has a ________.
Answer- the loss
(iii) Profit % or loss % is always calculated on ________.
Answer- the cost price
(iv) A man spends rs 4590 and saves 15% of his income. His income is ________.
Answer- rs 5400
(v) Ayush sold his scooter for rs 38400 and lost 20%. He had bought the scooter for_______.
Answer- rs 48000
Que-2: Write True (T) or False (F) :
(i) Profit% is always calculated on the cost price _______.
Answer- True
(ii) Net C.P. of an article + Actual C.P. – Overhead expenses _______.
Answer- False
(iii) There is gain if C.P.>S.P. ________.
Answer- False
(iv) Loss% = {(C.P.-S.P.)/C.P. * 100}% _______.
Answer- True
(v) S.P. = {(100-Loss%)/100 * C.P. _________.
Answer- True
(vi) C.P. = {100/(100+Gain%) * S.P. ________.
Answer- True
— : End of Profit Loss Class 7 RS Aggarwal Exe-10B MCQs Goyal Brothers ICSE Foundation Mathematics Solutions :–
Return to: – ICSE Class -7 RS Aggarwal Goyal Brothers Math Solutions
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