Profit Loss Class 7 RS Aggarwal Exe-10B MCQs Goyal Brothers ICSE Maths Solutions

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

Thanks

Please share with yours friends if helpful.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.