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Profit Quiz - CBSE Class 6 Mathematics

Free practice quiz: Profit (CBSE Class 6 Mathematics). 11 multiple-choice questions with answers and explanations. Play online, no sign-up needed.

This CBSE Class 6 Mathematics practice quiz has 11 multiple-choice questions on Profit, and 11 of them come with an explanation. Try the 5 sample questions below (tap an option to check yourself), then play the full quiz online. No sign-up needed.

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Cost Price and Selling Price

  • Cost Price (CP) is the amount paid to buy an item.
  • Selling Price (SP) is the amount received when the item is sold.
Cost Price
\[\text{CP} = \text{price paid to buy}\]
Selling Price
\[\text{SP} = \text{price received on selling}\]

Common mistake: Mixing up CP and SP. The buying price is always CP and the selling price is always SP.

Finding the Profit

  • If the selling price is more than the cost price, there is a profit.
  • Profit is the extra money earned, found by subtracting CP from SP.
Condition for profit
\[\text{SP} > \text{CP}\]
Profit
\[\text{Profit} = \text{SP} - \text{CP}\]

Common mistake: Subtracting SP from CP, which gives a negative answer. Always subtract the smaller CP from the bigger SP.

Profit Percentage

  • Profit percentage shows how big the profit is compared to the cost price.
  • It is always calculated on the cost price, not on the selling price.
Profit percentage
\[\text{Profit}\% = \frac{\text{Profit}}{\text{CP}} \times 100\]

Common mistake: Dividing the profit by SP instead of CP. Profit percentage is always found using the cost price.

Profit on Many Items

  • When many identical items are bought and sold, find the total CP and total SP first.
  • Or find the profit on one item and multiply by the number of items.
Total cost price
\[\text{Total CP} = n \times \text{CP of one item}\]
Total selling price
\[\text{Total SP} = n \times \text{SP of one item}\]
Total profit
\[\text{Total Profit} = n \times (\text{SP} - \text{CP})\]

Common mistake: Finding the profit on only one item and forgetting to multiply it by the number of items.

Exam tips

Beta: made with AI and checked by a second AI. A teacher has not reviewed it yet.

Sample questions

  1. If a book is sold for $150, which was bought for $120, what is the profit?

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    Answer: B. $30

    Profit is calculated by subtracting the cost price from the selling price. Here, profit = $150 - $120 = $30.

  2. A shirt is bought for $40 and sold for $50. What is the profit percentage?

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    Answer: B. 25%

    Profit Percentage = (Profit/Cost Price) x 100. Here, Profit = $50 - $40 = $10. So, (10/40) x 100 = 25%.

  3. John bought a laptop for $600 and sold it for $720. What is the profit?

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    Answer: C. $120

    Profit = Selling Price - Cost Price = $720 - $600 = $120.

  4. Peter bought a guitar for $150 and then sold it for $180. What is his profit?

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    Answer: B. $30

    Profit = Selling Price - Cost Price = $180 - $150 = $30.

  5. A bicycle was purchased for $150 and sold for $200. Calculate the profit and profit percentage.

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    Answer: A. Profit: $50, Profit Percentage: 33.33%

    Profit = $200 - $150 = $50; Profit Percentage = (50/150) x 100 = 33.33%.

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More questions in this quiz

Answers and explanations are in the full quiz.

  1. A toy is purchased for $25 and sold for $35. What is the profit?
  2. If a bicycle is bought for $200 and sold for $250, what is the profit?
  3. If a jacket is bought for $80 and sold for $100, what is the profit percentage?
  4. A restaurant purchases ingredients for $2000 and sells meals for $2500. Calculate the profit.
  5. If a merchant buys 20 shirts at $25 each and sells them for $35 each, what is his total profit?
  6. An investor bought shares worth $5000, and after a year, sold them for $6000. What is the profit in percentage?

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