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

The cost price of an article is 30 percent less than its selling price. Find, the profit or the loss as percent.
  1. $41\displaystyle \frac {6}{7}\%$ loss
  2. $40\displaystyle \frac {6}{7}\%$ loss
  3. $43\displaystyle \frac {6}{7}\%$ gain
  4. $42\displaystyle \frac {6}{7}\%$ gain
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Let SP = 100. CP is 30% less, so CP = 70. Profit = SP - CP = 30. Profit percentage = (Profit / CP) * 100 = (30 / 70) * 100 = 300 / 7 = 42 6/7%.

Multiple choice

X sends out goods costing Rs 80,000 to Y so as to show 20% profit on invoice value. 3/5th of the goods received by consignee is sold at 10% above invoice price. The amount of sale value will be ______________.

  1. Rs 66,000

  2. Rs 60,000

  3. Rs 50,400

  4. Rs 52,800
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Cost = 80,000. Invoice value = Cost + 20% of Invoice => I = 80,000 + 0.2I => 0.8I = 80,000 => I = 100,000. 3/5 of goods = 60,000 (invoice value). Sold at 10% above invoice = 60,000 * 1.1 = 66,000.

Multiple choice

X sent out goods costing Rs 90,000 to Y at cost + 33 $\displaystyle \frac{1}{3}$%, 1/10th of goods were lost in transit. 2/3rd of the received goods are sold at 20% above invoice price. $\displaystyle \frac{1}{2}$ of the sales are on credit. The amount of credit sales will be _______________.

  1. Rs 43,200

  2. Rs 36,000

  3. Rs 42,000

  4. Rs 45,000
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Invoice price = 90000 * 4/3 = 120000. Goods remaining after loss = 90000 * 0.9 = 81000 cost, or 108000 invoice. 2/3 of received goods = 72000 invoice. Sold at 20% above invoice = 72000 * 1.2 = 86400. Half of sales = 43200.

Multiple choice

On 31 st December, 2006, goods sold at a sale price of? 15,000 were lying with a customer, to whom these goods were sold on 'sale or return basis' and recorded as actual sales. Since no consent was received from him, the adjustment entry was made presuming goods were sent on approval at a profit of cost plus 20%. In the balance sheet the stock with customers account will be shown at ______________.

  1. Rs 15,000

  2. Rs 12,000

  3. Rs 10,000

  4. Rs 12,500
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The goods were sold at cost plus 20%. If cost is 100, price is 120. Given price is 15000, cost = (15000 / 120) * 100 = 12500. Stock with customers is valued at cost.

Multiple choice

Particulars June $2015$ July $2015$ August $2015$ Opening stock $4,08,000$ $4,34,400$ $4,60,800$ Credit Sales $15,00,000$ $16,00,000$ $17,00,000$ Cash Sales $2,00,000$ $2,10,000$ $2,20,000$ Selling price is $125\%$ of the purchase price. The cost of goods sold for the month of June, $2015$ is?
  1. Rs. $15,20,000$
  2. Rs. $14,02,500$
  3. Rs. $12,75,000$
  4. Rs. $13,60,000$
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Cost of goods sold = Opening stock + Purchases - Closing stock. However, using the given data: Sales = 15,00,000 + 2,00,000 = 17,00,000. Selling price = 125% of cost, so Cost = 17,00,000 / 1.25 = 13,60,000.