Some Solved Questions on Percentage
1. What would be the cost of $100 if it is discounted by 25%?
a) $75
b) $80
c) $90
d) $95
Answer: a) $75
Explanation: The item is on sale for 25% off.
Therefore, $100 x 25%
= 100 x (25/100)
= 100 x 1/4
= $25
The amount paid = $100 - $25
= $75
2. If a business has a profit margin of 20%, how much profit does it make for every $100 of revenue?
a) $20
b) $25
c) $30
d) $35
Answer: a) $20
Explanation: Profit per $100 of revenue = Profit Margin x 100
In this case, the profit margin is 20%, so substituting that value into the formula we get:
Profit per $100 of revenue = 20% x 100
= 0.20 x 100
= $20
Therefore, the business makes a profit of $20 for every $100 of revenue.
3. If a test has 10 questions and you got 8 correct, what percentage did you score?
a) 80%
b) 75%
c) 70%
d) 60%
Answer: a) 80%
Explanation: The percentage score = (number of correct answers / total number of questions) x 100
(8/10) x 100 = 80%
4. Suppose your total revenue this week is $1,000, and your cost of goods sold is $700. What would be the value of gross profit margin per cent?
a) 10%
b) 20%
c) 30%
d) 40%
Answer: c) 30%
Explanation: Gross Profit = Total Revenue - Cost of Goods Sold
Gross Profit = $1,000 - $700
Gross Profit = $300
Now we can calculate the gross profit margin using the formula above:
Gross Profit Margin = (Gross Profit / Total Revenue) x 100
Gross Profit Margin = ($300 / $1,000) x 100
Gross Profit Margin = 30%
Therefore, the gross profit margin for this week is 30%.
5. A student got 40 out of 50 in a test, what percentage did he score?
a) 90%
b) 80%
c) 70%
d) 60%
Answer: b) 80%
Explanation: Percentage score = (Marks obtained / Total marks) x 100
= (40/50) x 100
= 80%
6. If a product is marked up by 50%, what is the selling price if the cost price is $100?
a) $150
b) $125
c) $110
d) $100
Answer: a) $150
Explanation: Markup Percentage = 50/100 = 0.5
Selling Price = Cost Price x (1 + Markup Percentage)
Selling Price = $100 x (1 + 0.5)
Selling Price = $100 x 1.5
Selling Price = $150
7. If the cost price of an item is $50 and the selling price is $40, what is the percentage loss?
a) 20%
b) 25%
c) 30%
d) 35%
Answer: a) 20%
Explanation: Percentage loss = ((cost price - selling price) / cost price) x 100
(($50 - $40) / $50) x 100 = 20%
8. If a business has a profit percentage of 50%, what does this mean in relation to its revenue and cost?
a) The business is making a 50% profit on its revenue.
b) The business is losing 50% of its revenue.
c) The business is making a 50% profit on its cost.
d) The business is losing 50% of its cost.
Answer: a) The business is making a 50% profit on its revenue.
9. If a student scores 75% in an exam, what is the equivalent CGPA on an 8-point scale?
a) 5.0
b) 5.5
c) 6.0
d) 6.5
Answer: c) 6.0
Explanation: CGPA = (Percentage/100) x Maximum CGPA
CGPA = (75/100) x 8 = 0.75 x 8 = 6
10. How would you convert 75% to a fraction?
a) 3/4
b) 2/5
c) 1/2
d) 5/6
Answer: a) 3/4
Explanation: 75% = 75/100
= 3/4
Therefore, 75% is equivalent to 3/4 as a fraction.
Questions for Practice on Percentage
1. If the price of a car decreased from $20,000 to $16,000, what is the percentage decrease?
a) 15%
b) 20%
c) 25%
d) 30%
Answer: (b) 20%
2. If a shirt originally cost $50 and is now on sale for $40, what is the percentage discount?
a) 10%
b) 15%
c) 20%
d) 25%
Answer: (c) 20%
3. A company's profit margin is 25%. If the company's revenue is $80,000, how much profit did it make?
a) $20,000
b) $60,000
c) $20,800
d) $22,000
Answer: (a) $20,000
4. If a pizza originally had 8 slices and you ate 2 slices, what percentage of the pizza did you eat?
a) 20%
b) 25%
c) 30%
d) 40%
Answer: (b) 25%
5. If a company's expenses are $50,000 and its revenue is $80,000, what is the company's profit margin per cent?
a) 20%
b) 37.5%
c) 60%
d) 80%
Answer: (b) 37.5%
