Profit, Loss and Financial Calculations Flashcards
6 cards from real Civil Service Numerical Reasoning Test practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Profit, Loss and Financial Calculations flashcards as text
A retail outlet's monthly costs are: rent £3,500, wages £8,200, utilities £600, stock £12,000. Monthly revenue is £28,000. What is the monthly profit?
Answer: £3,700
Total costs = 3,500 + 8,200 + 600 + 12,000 = £24,300. Profit = £28,000 − £24,300 = £3,700.
A product sells for £95. The cost to produce it is £57. What is the gross profit percentage (based on selling price)?
Answer: 40%
Gross profit = £38. (38 ÷ 95) × 100 = 40%.
A business paid £240,000 in wages. Wages represent 60% of total costs. What are the total costs?
Answer: £400,000
Total costs = £240,000 ÷ 0.60 = £400,000.
Quarterly revenue: Q1 £110,000; Q2 £130,000; Q3 £95,000; Q4 £140,000. What is the average quarterly profit if total costs for the year were £360,000?
Answer: £28,750
Total revenue = £475,000. Annual profit = £475,000 − £360,000 = £115,000. Quarterly average = £115,000 ÷ 4 = £28,750.
A company buys raw materials for £15 per unit and sells finished products for £25 per unit. After additional processing costs of £4 per unit, what is the profit per unit?
Answer: £6
Cost per unit = £15 + £4 = £19. Profit = £25 − £19 = £6.
A department had a budget of £50,000 and overspent by 8%. What was the actual spend?
Answer: £54,000
8% of £50,000 = £4,000. Actual spend = £50,000 + £4,000 = £54,000.