1) If I gain money on an item I sold, is this a profit or a loss? a) Profit b) Loss 2) If I lose money on an item I sold, is this a profit or a loss? a) Loss b) Profit 3) I have an item which costs $2 and I sold it for $3. How much profit do I make? a) $0.99 b) $1 c) $5 4) I have an item which costs $5 and I notice it is broken, so I sold it for $2.50. How much have I lost? a) $0.50 b) $2.50 c) $2 5) I have an item which costs $400 and I am selling it for $300. Am I making a profit or a loss? a) Profit b) Loss 6) I have an item which costs $950 and I am selling it for $1200. Am I making a profit or a loss? a) Profit b) Loss 7) I want to make a 50 cent profit. My item cost $2 to make a profit how much should I sell it for? a) $1.50 b) $2.50 c) $3 8) I want to make a $5 profit. My item cost $6 to make a profit how much should I sell it for? a) $11 b) $1 c) $5 9) I made a $15 loss on my $100 watch. How much did I sell the watch for? a) $85 b) $95 c) $115 10) I spent $10 to make 20 cupcakes. I am selling each cake for $1 each. If all the cakes are sold, how much profit will I make? a) $20 b) $10 c) $5

Profit and Loss Quiz

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