Grade 7 · Year 8 · Class 7 · ages 12–13 · Percentages
Profit and loss: Grade 7 practice
Finding profit or loss as a percentage of the cost price, and the selling price after a gain or loss. Eight questions at a time, instant feedback and a mastery score from 0 to 100.
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Right answers raise your mastery score (more on harder questions) and wrong ones lower it a little. Your best score is saved on this device, and in your account if you log in.
The idea in one minute
Profit percent = profit ÷ cost price × 100. Always compare the change with the cost price, not the selling price.
Try these on paper first
One question at each level. Tap a question to see the answer.
Easy Cost price ₹200, selling price ₹280. The profit percent is
Answer: 40
Medium Cost price ₹600, selling price ₹720. The profit percent is
Answer: 20
Challenge A shopkeeper buys an article for ₹100 and sells it at a 10% profit. The selling price is ₹
Answer: 110
More ways to practise profit and loss
- Printable profit and loss worksheet with an answer key (new questions every time)
- Percent Power: Practise finding percentages of amounts and understanding percentage increase and decrease.
- All Grade 7 practice · Percentage worksheets
Related skills
- Percentage increase and decrease (Grade 7)
- Simple interest (Grade 7)
- Discounts word problems (Grade 7)
- Compound interest for 2 years (Grade 8)
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FAQ
Profit and loss: questions
What grade is profit and loss?
It is usually taught in Grade 7 (Year 8 in England, Class 7 in India, ages 12–13), though schools and countries differ. Try the grade above or below if it feels too hard or too easy.
What does a profit and loss question look like?
For example: "Cost price ₹600, selling price ₹720. The profit percent is" The answer is 20. Profit percent = profit ÷ cost price × 100. Always compare the change with the cost price, not the selling price.
What should I learn before and after profit and loss?
Before it, try percentage increase and decrease (Grade 7). After it, move on to simple interest (Grade 7).
How can I get better at profit and loss?
Profit percent = profit ÷ cost price × 100. Always compare the change with the cost price, not the selling price. Practise a little every day, read the hint after each wrong answer, and use the printable worksheet when you want to write it out.
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