1) If I gain money on an item I sell, is this a profit or a loss? a) Profit b) Loss 2) If I lose money on an item I sell, is this a profit or a loss? a) Loss b) Profit 3) I have an item which costs £2 and I sell it for £3. How much profit do I make? a) 99p b) £1 c) 1p d) £4 4) I have an item which costs £5 and I notice it's broken, so I sell it for £2.50. How much have I lost? a) 50p b) £2.50 c) £2 d) £3 5) I have an item which costs £4 and I'm selling it for £3. Am I making a profit or a loss? a) Profit b) Loss 6) I have an item which costs £9 and I'm selling it for £12. Am I making a profit or a loss? a) Profit b) Loss 7) I want to make a 50p profit. My item cost £2 to make. How much should I sell it for? a) £1.50 b) £2.50 c) £3 d) £4 8) I want to make a £5 profit. My item cost £6 to make. How much should I sell it for? a) £11 b) £1 c) £5 d) £9 9) I made a £10 loss on my £20 watch. How much did the watch sell for? a) £10 b) £20 c) £30 d) £50 10) I spent making £10 on making 20 cakes. I am selling each cake for £1 each. If all cakes sell, how much profit will I make? a) £20 b) £10 c) £5 d) £7

Profit and Loss Quiz

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