Quantitative Aptitude

Profit, Loss and Discount

2,604 Questions
All Basic CP/SP Percentage Relationship 874 Marked Price, Markup, and Discount 786 Partial Sales and Multiple Transactions 338 Successive Discounts 218 Cost Price of X = Selling Price of Y 180 Faulty Weight or Measure 126 Equal Profit and Loss Rates 57 Free-item Offers 23 Price and Consumption Variation 1

Profit, Loss and Discount Questions

Multiple choice

There is an iron ore which contains 80% iron. If the cost of the ore is Rs. 0.30 per kg and the cost to produce iron from 100 kg of the ore is Rs. 40, each kg of iron being sold at Re. 1, then what is the profit percentage?

  1. 12.5%

  2. 14.28%

  3. 16.66%

  4. 20%

  5. 26%
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Cost for 100 kg ore = 100 * 0.30 + 40 = 30 + 40 = 70. Iron content = 80% of 100 kg = 80 kg. Revenue = 80 * 1 = 80. Profit = 80 - 70 = 10. Profit % = (10/70) * 100 = 14.28%.

Multiple choice

There are two shops, A and B. Shop A gives successive discounts of 60% and 40%, whereas shop B gives successive discounts of 30% and 70%. If the selling price of an article is the same in both the shops, then what is the ratio of marked prices of the article in the two shops?

  1. 3 : 4

  2. 7 : 8

  3. 1 : 2

  4. 1 : 1

  5. 7 : 6
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Shop A price = MP_A * 0.4 * 0.6 = 0.24 * MP_A. Shop B price = MP_B * 0.7 * 0.3 = 0.21 * MP_B. Setting them equal: 0.24 * MP_A = 0.21 * MP_B, so MP_A / MP_B = 0.21 / 0.24 = 21/24 = 7/8.

Multiple choice

The cost of a coat to a merchant was $40. The merchant fixes the selling price, so that if the selling price was later discounted by 20 percent, the selling price would be 25 percent greater than the cost of the coat. What is the original selling price of the coat?
  1. $150.00
  2. $62.50
  3. $52.50
  4. $50.00
  5. $37.50
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let S be the selling price. Discounted price = 0.8S. We are told 0.8S = 1.25 * 40 = 50. Therefore, S = 50 / 0.8 = 62.50.