Question Paper
Class / Subject: Class 7 (ICSE) · Mathematics
Chapter: Chapter 8 — Chapter 8: Percentage (Including Profit and Loss and Discount)
Time Allowed: 32 minutes
Max Marks: 16
1. How is profit percentage calculated? [1]
(A) (Profit ÷ Cost Price) × 100
(B) (Cost Price ÷ Profit) × 100
(C) Profit + Cost Price
(D) Profit - Cost Price
2. How is loss percentage calculated? [1]
(A) (Loss ÷ Cost Price) × 100
(B) (Cost Price ÷ Loss) × 100
(C) Loss + Cost Price
(D) Loss - Cost Price
3. What is a discount? [1]
(A) A percentage reduction in price
(B) A percentage increase in price
(C) The same as profit
(D) The same as loss
4. What does a 20% discount on ₹500 save? [1]
(A) ₹100
(B) ₹50
(C) ₹200
(D) ₹20
5. If cost price is ₹100 and selling price is ₹120, what is the profit? [1]
(A) ₹20
(B) ₹100
(C) ₹120
(D) ₹220
6. What is the profit percentage in the above example? [1]
(A) 20%
(B) 10%
(C) 100%
(D) 120%
7. If cost price is ₹200 and selling price is ₹150, what is the loss? [1]
(A) ₹50
(B) ₹200
(C) ₹150
(D) ₹350
8. Why learn profit, loss and discount calculations? [1]
(A) To make informed business and shopping decisions
(B) No reason
(C) It's not useful
(D) Only for tests
9. How is profit percentage calculated? [1]
(A) (Profit ÷ Cost Price) × 100
(B) (Cost Price ÷ Profit) × 100
(C) Profit + Cost Price
(D) Profit - Cost Price
10. How is loss percentage calculated? [1]
(A) (Loss ÷ Cost Price) × 100
(B) (Cost Price ÷ Loss) × 100
(C) Loss + Cost Price
(D) Loss - Cost Price
11. What is a discount? [1]
(A) A percentage reduction in price
(B) A percentage increase in price
(C) The same as profit
(D) The same as loss
12. What does a 20% discount on ₹500 save? [1]
(A) ₹100
(B) ₹50
(C) ₹200
(D) ₹20
13. If cost price is ₹100 and selling price is ₹120, what is the profit? [1]
(A) ₹20
(B) ₹100
(C) ₹120
(D) ₹220
14. What is the profit percentage in the above example? [1]
(A) 20%
(B) 10%
(C) 100%
(D) 120%
15. If cost price is ₹200 and selling price is ₹150, what is the loss? [1]
(A) ₹50
(B) ₹200
(C) ₹150
(D) ₹350
16. Why learn profit, loss and discount calculations? [1]
(A) To make informed business and shopping decisions
(B) No reason
(C) It's not useful
(D) Only for tests