Question Paper
Class / Subject: Class 8 (ICSE) · Mathematics
Chapter: Chapter 8 — Chapter 8: Profit, Loss and Discount
Time Allowed: 32 minutes
Max Marks: 16
1. How is profit calculated? [1]
(A) Selling Price - Cost Price
(B) Cost Price - Selling Price
(C) Selling Price + Cost Price
(D) Selling Price ÷ Cost Price
2. If cost is ₹100 and selling price is ₹120, what is the profit? [1]
(A) ₹20
(B) ₹100
(C) ₹120
(D) ₹220
3. How is loss calculated? [1]
(A) Cost Price - Selling Price
(B) Selling Price - Cost Price
(C) Cost Price + Selling Price
(D) Cost Price ÷ Selling Price
4. If cost is ₹150 and selling price is ₹120, what is the loss? [1]
(A) ₹30
(B) ₹150
(C) ₹120
(D) ₹270
5. How is discount applied? [1]
(A) Selling Price = Marked Price - Discount
(B) Selling Price = Marked Price + Discount
(C) Selling Price = Marked Price × Discount
(D) Discount has no formula
6. If marked price is ₹500 and discount is ₹50, what is the selling price? [1]
(A) ₹450
(B) ₹550
(C) ₹50
(D) ₹500
7. What is profit percentage formula? [1]
(A) (Profit ÷ Cost Price) × 100
(B) (Cost Price ÷ Profit) × 100
(C) Profit + Cost Price
(D) Profit - Cost Price
8. Why learn profit, loss and discount calculations? [1]
(A) For informed business and shopping decisions
(B) No reason
(C) It's not useful
(D) Only for tests
9. How is profit calculated? [1]
(A) Selling Price - Cost Price
(B) Cost Price - Selling Price
(C) Selling Price + Cost Price
(D) Selling Price ÷ Cost Price
10. If cost is ₹100 and selling price is ₹120, what is the profit? [1]
(A) ₹20
(B) ₹100
(C) ₹120
(D) ₹220
11. How is loss calculated? [1]
(A) Cost Price - Selling Price
(B) Selling Price - Cost Price
(C) Cost Price + Selling Price
(D) Cost Price ÷ Selling Price
12. If cost is ₹150 and selling price is ₹120, what is the loss? [1]
(A) ₹30
(B) ₹150
(C) ₹120
(D) ₹270
13. How is discount applied? [1]
(A) Selling Price = Marked Price - Discount
(B) Selling Price = Marked Price + Discount
(C) Selling Price = Marked Price × Discount
(D) Discount has no formula
14. If marked price is ₹500 and discount is ₹50, what is the selling price? [1]
(A) ₹450
(B) ₹550
(C) ₹50
(D) ₹500
15. What is profit percentage formula? [1]
(A) (Profit ÷ Cost Price) × 100
(B) (Cost Price ÷ Profit) × 100
(C) Profit + Cost Price
(D) Profit - Cost Price
16. Why learn profit, loss and discount calculations? [1]
(A) For informed business and shopping decisions
(B) No reason
(C) It's not useful
(D) Only for tests