Civil Service Numerical Reasoning Test Profit, Loss and Financial Calculations 2 — Questions and Answers
Question 1: A product is sold at a loss of 15%. It was bought for £80. What was it sold for?
- £68 (Correct answer)
- £64
- £72
- £70
Correct answer: £68
15% of £80 = £12. Selling price = £80 − £12 = £68.
Question 2: A company's profit increased from £60,000 to £78,000. What was the percentage increase in profit?
- 30% (Correct answer)
- 20%
- 25%
- 35%
Correct answer: 30%
Increase = £18,000. (18,000 ÷ 60,000) × 100 = 30%.
Question 3: Total costs are split: fixed costs £12,000 and variable costs £8,400. Revenue is £26,000. What is the profit?
- £5,600 (Correct answer)
- £6,000
- £4,600
- £7,000
Correct answer: £5,600
Total costs = £20,400. Profit = £26,000 − £20,400 = £5,600.
Question 4: An investment of £10,000 generates a 7% annual return. What is the return in pounds?
- £700 (Correct answer)
- £600
- £750
- £800
Correct answer: £700
7% of £10,000 = 0.07 × 10,000 = £700.
Question 5: A business made a loss of £9,000 on a deal. This represents 12% of the original investment. What was the original investment?
- £75,000 (Correct answer)
- £80,000
- £72,000
- £90,000
Correct answer: £75,000
£9,000 = 12% of investment. Investment = £9,000 ÷ 0.12 = £75,000.
Question 6: Gross profit is £120,000 and operating costs are £45,000. What is the net profit?
- £75,000 (Correct answer)
- £65,000
- £80,000
- £90,000
Correct answer: £75,000
Net profit = Gross profit − Operating costs = £120,000 − £45,000 = £75,000.
Civil Service Numerical Reasoning Test Profit, Loss and Financial Calculations 2
A product is sold at a loss of 15%.
It was bought for £80.
What was it sold for?