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Class 5 Exam  >  Class 5 Tests  >  Mathematics for Class 5  >  Test: Profit & Loss - Class 5 MCQ

Test: Profit & Loss - Class 5 MCQ


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10 Questions MCQ Test Mathematics for Class 5 - Test: Profit & Loss

Test: Profit & Loss for Class 5 2025 is part of Mathematics for Class 5 preparation. The Test: Profit & Loss questions and answers have been prepared according to the Class 5 exam syllabus.The Test: Profit & Loss MCQs are made for Class 5 2025 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Profit & Loss below.
Solutions of Test: Profit & Loss questions in English are available as part of our Mathematics for Class 5 for Class 5 & Test: Profit & Loss solutions in Hindi for Mathematics for Class 5 course. Download more important topics, notes, lectures and mock test series for Class 5 Exam by signing up for free. Attempt Test: Profit & Loss | 10 questions in 15 minutes | Mock test for Class 5 preparation | Free important questions MCQ to study Mathematics for Class 5 for Class 5 Exam | Download free PDF with solutions
Test: Profit & Loss - Question 1
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Rohit bought a cycle for ₹4560 and sold it for ₹5130. Did he make a profit or a loss, and how much?

Detailed Solution for Test: Profit & Loss - Question 1

To determine whether Rohit made a profit or a loss, we subtract the cost price (CP) from the selling price (SP).

  • Profit = SP - CP
  • Profit = ₹5130 - ₹4560
  • Profit = ₹570

Therefore, Rohit made a profit of ₹570.

Test: Profit & Loss - Question 2
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A shopkeeper bought a box of pencils for ₹25.50 and sold it for ₹23.75. Did he make a profit or a loss, and how much?

Detailed Solution for Test: Profit & Loss - Question 2
  • The shopkeeper bought the box for ₹25.50.
  • He sold it for ₹23.75.
  • Since the selling price is less than the cost price, there’s a loss.
  • Loss = Cost Price - Selling Price = ₹25.50 - ₹23.75 = ₹1.75.
  • Thus, the shopkeeper incurred a loss of ₹1.75.
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Test: Profit & Loss - Question 3
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If the Cost Price (CP) of an item is ₹560 and the Selling Price (SP) is ₹590, what is the profit or loss?

Detailed Solution for Test: Profit & Loss - Question 3
  • The Cost Price (CP) of the item is ₹560 and the Selling Price (SP) is ₹590.
  • Calculate profit by subtracting CP from SP: Profit = ₹590 - ₹560 = ₹30.
  • Since the result is positive, it means there is a profit of ₹30.
  • Therefore, the answer is Profit of ₹30.
Test: Profit & Loss - Question 4
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If the Cost Price (CP) of an item is ₹2560 and the Selling Price (SP) is ₹2510, what is the profit or loss?
Detailed Solution for Test: Profit & Loss - Question 4

The calculation of loss can be expressed as follows:

  • Cost Price (CP): ₹2560
  • Selling Price (SP): ₹2510
  • Loss: CP - SP

Substituting the values:

  • Loss = ₹2560 - ₹2510
  • Loss = ₹50

Therefore, the total loss incurred is ₹50.

Test: Profit & Loss - Question 5
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If the Cost Price (CP) of an item is ₹650 and the Selling Price (SP) is ₹710, what is the profit or loss?
Detailed Solution for Test: Profit & Loss - Question 5

To determine whether there is a profit or loss, we subtract the Cost Price (CP) from the Selling Price (SP).

  • Profit = SP - CP
  • Profit = ₹710 - ₹650
  • Profit = ₹60

Since the result is positive, it indicates a profit. Therefore, the correct answer is a profit of ₹60.

Test: Profit & Loss - Question 6
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If the Cost Price (CP) of an item is ₹1967 and the Selling Price (SP) is ₹2000, what is the profit or loss?
Detailed Solution for Test: Profit & Loss - Question 6

To determine if there's a profit or loss, follow these steps:

  • Subtract the Cost Price (CP) from the Selling Price (SP).
  • The formula is: Profit = SP - CP
  • Using the given values: SP = ₹2000 and CP = ₹1967
  • Calculate: Profit = ₹2000 - ₹1967 = ₹33

Since the result is positive, it indicates a profit. Therefore, the profit is ₹33.

Test: Profit & Loss - Question 7
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If the Cost Price (CP) of an item is ₹30.45 and the Selling Price (SP) is ₹32, what is the profit or loss?
Detailed Solution for Test: Profit & Loss - Question 7

The formula for calculating profit is given by:

Profit = SP - CP

Where:

  • SP = Selling Price
  • CP = Cost Price

In this case:

  • SP = ₹32
  • CP = ₹30.45

Now, substituting the values into the formula:

Profit = ₹32 - ₹30.45 = ₹1.55

Therefore, the correct answer is a profit of ₹1.55.

Test: Profit & Loss - Question 8
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If the Cost Price (CP) of an item is ₹90.15 and the Selling Price (SP) is ₹89.25, what is the profit or loss?
Detailed Solution for Test: Profit & Loss - Question 8

The item was sold at a loss because the Cost Price (₹90.15) is higher than the Selling Price (₹89.25). The amount of loss is calculated as:

  • Loss = CP - SP
  • Loss = ₹90.15 - ₹89.25
  • Loss = ₹0.90
Test: Profit & Loss - Question 9
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Mr. Lal bought a refrigerator for ₹32645 and sold it for ₹35000. Did he make a profit or a loss, and how much?
Detailed Solution for Test: Profit & Loss - Question 9

The calculation to determine if there was a profit or loss is done by subtracting the Cost Price (CP) from the Selling Price (SP).

  • Profit = SP - CP
  • Profit = ₹35,000 - ₹32,645
  • Profit = ₹2,355

Therefore, Mr. Lal made a profit of ₹2,355.

Test: Profit & Loss - Question 10
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Nitu bought a music system for ₹8960 and spent ₹450 on repairs. She sold it at a profit of ₹510. What is the Selling Price (SP)?
Detailed Solution for Test: Profit & Loss - Question 10

Total CP = ₹8960 + ₹450 = ₹9410
Profit = ₹510
SP = CP + Profit = ₹9410 + ₹510 = ₹9920.

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