Profit is the gain made when selling something for more than its cost, loss is when it is sold for less, and percentage is a way of expressing these amounts as parts of a hundred. These concepts are used in business, shopping, and financial planning. Understanding profit, loss, and percentage helps students make smart decisions about money and understand discounts and deals. These Percentage, Profit, and Loss Questions for Grade 7 develop practical financial literacy skills. Students can attempt these 10 MCQs to check how well they can calculate and apply these concepts.
The selling price of a book is $22 more than three times its cost price. If the cost price of the book is $p, what would be the profit percentage?
Answer: (c) [200(p + 11)/p] %
A box contains 60 balls that are red, blue, white and green in color. If 20 balls are red, 15 are blue, 2/5 of the remaining are white and the rest are green, then find the percentage of green balls to the white balls in the box.
Answer: (d) 150%
In a periodic test, the ratio of marks obtained by Martin and Charlie is in the ratio 3/4 : 1/2. If the sum of their marks is 80 which is equal to the maximum marks, then find the percentage of marks obtained by Charlie.
Answer: (b) 40%
Rachel has cards numbered 1 through 27. Determine the percentage of prime number cards to the number of cards with multiples of 4.
Answer: (b) 150%
The price of a watch increased by 120% in a year. If its price after one year is $1,650, then find its original price.
Answer: (c) $750
A scooter is sold for $36,000 at a 25% loss. At what price must it be sold to gain 31%?
Answer: (a) $62,880
The length of a rectangle is increased by 15% and its breadth is decreased by 20%. Determine the percentage increase or decrease in the area of the rectangle.
Answer: (d) 8%, decrease
Read the passage carefully and answer the following question. Luci, Lisa and Lara are preparing for annual examinations. They study for a certain number of hours a week. 80% of the sum of the number of hours for which Luci and Lisa study is 20 more than 50% of the number of hours for which Lara studies a week. The ratio of the number of hours for which Luci studies to the number of hours for which Lisa studies is 3 : 7 and the difference of the number of hours for which Lara and Lisa study is 14. What is the percentage of study time of Lisa to the study time of Luci a week?
Answer: (b) 2331⁄3 %
Read the passage carefully and answer the following question. Luci, Lisa and Lara are preparing for annual examinations. They study for a certain number of hours a week. 80% of the sum of the number of hours for which Luci and Lisa study is 20 more than 50% of the number of hours for which Lara studies a week. The ratio of the number of hours for which Luci studies to the number of hours for which Lisa studies is 3 : 7 and the difference of the number of hours for which Lara and Lisa study is 14. Determine the number of hours for which Lara studies in a week.
Answer: (a) 56 hours
Read the passage carefully and answer the following question. Luci, Lisa and Lara are preparing for annual examinations. They study for a certain number of hours a week. 80% of the sum of the number of hours for which Luci and Lisa study is 20 more than 50% of the number of hours for which Lara studies a week. The ratio of the number of hours for which Luci studies to the number of hours for which Lisa studies is 3 : 7 and the difference of the number of hours for which Lara and Lisa study is 14. What is the percent increase in Luci and Lisa's combined study time to that of Lara's study time?
Answer: (d) 71⁄7%
| Topic | Quiz |
|---|---|
| Algebraic Expressions | Quiz on Algebraic Expressions |
| Data Handling | Quiz on Data Handling |
| Simple Linear Equations | Quiz on Simple Linear Equations |
| Exponents and Powers | Quiz on Exponents and Powers |
| Fractions | Quiz on Fractions |
| Integers | Quiz on Integers |
| Mensuration | Quiz on Mensuration |
| Profit, Loss and Percentage | Quiz on Profit, Loss and Percentage |
| Ratio and Proportion | Quiz on Ratio and Proportion |
| Rational Numbers | Quiz on Rational Numbers |
| Symmetry and Visualising Solid Shapes | Quiz on Symmetry and Visualising Solid Shapes |
| Triangles | Quiz on Triangles |