Profit and Loss Worksheet
A Grade 7 Math worksheet focusing on understanding and calculating profit, loss, cost price, and selling price.
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Profit and Loss Worksheet
Name:
Date:
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Read each question carefully and answer to the best of your ability. Show all your work where required.
1. If the selling price of an item is greater than its cost price, what is the result?
Loss
Profit
Break-even
Discount
2. A shopkeeper bought a toy for $50 and sold it for $45. What is the loss percentage?
5%
10%
15%
20%
1. The original price at which an item is purchased is called the .
2. When the cost price is higher than the selling price, there is a .
1. A vendor buys a dozen apples for $15 and sells them for $2 each. Calculate the total profit or loss.
2. If a shirt is bought for $25 and sold for $30, what is the profit percentage?
1. Profit is calculated as Selling Price - Cost Price.
True
False
2. A loss occurs when the selling price is greater than the cost price.
True
False
1. A bookseller bought 100 books for $20 each. He sold 75 of them at a profit of 20% and the remaining 25 books at a loss of 10%. Calculate his overall profit or loss percentage.