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

X & Y entered into joint venture on $1.10.2015$ for sale of certain goods. X purchased goods costing Rs$4,00,000$ and incurred expenses Rs$60,000$. He sold $90\%$ of these goods at $30\%$ over the cost price and selling expenses amounted to Rs$25,000$. Sale price of sale from X = ?
  1. Rs$5,38,200$
  2. Rs$5,67,450$
  3. Rs$4,68,000$
  4. Rs$5,50,200$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The cost of the 90% of goods sold is 90% of Rs. 4,00,000, which is Rs. 3,60,000. Selling them at 30% above cost gives a sale price of Rs. 4,68,000.

Multiple choice

A and B enter into a joint venture for purchase and sale of Type-writer. A purchased Typewriter costing 2,00,000. Repairing expenses 20,000, printing expenses 20,000. B sold it at 20% margin on selling price. The sales value will be ____________.

  1. 2,50,000.

  2. 3,00,000.

  3. 2,00,000.

  4. 2,80,000.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Total cost = 2,00,000 + 20,000 + 20,000 = 2,40,000. The margin is 20% on the selling price, which means the cost is 80% of the selling price. Therefore, 0.8 * Selling Price = 2,40,000, so Selling Price = 2,40,000 / 0.8 = 3,00,000.

Multiple choice

X & Y entered into joint venture for sale of certain goods by introducing Rs$6,00,000$ and Rs$4,00,000$ respectively. They decided to share profit & losses in $3:5$. Joint bank has to be used for purchase and sale. Each venture is entitled commission of $5\%$ on sale made by him. X purchased goods costing Rs$4,00,000$ and incurred expenses Rs$60,000$. He sold $90\%$ of these goods at $30\%$ over the cost price and selling expenses amounted to Rs$25,000$. Y purchased goods costing Rs$5,00,000$ and incurred expenses amounting to Rs$65,000$. He sold $80\%$ of the goods at $25\%$ over the cost price and selling expenses amounted to Rs$30,000$. $1/5$th of the remaining goods purchased by X was destroyed by fire and insurance company settled the claim at Rs$20,000$. Unsold goods was taken over by X & Y in their profit sharing ratio. What are the amounts for which Joint Venture A/c will be credited for unsold goods taken over by X & Y?
  1. Rs. $56,175 & 93,625$
  2. Rs. $52,500 & 87,500$
  3. Rs. $59,625 & 99,375$

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

This is an accounting problem. Unsold goods are valued at cost. X's unsold goods: 10% of 400k = 40k. Y's unsold goods: 20% of 500k = 100k. Total = 140k. Profit sharing ratio 3:5. X takes 3/8 of 140k = 52.5k. Y takes 5/8 of 140k = 87.5k. The provided answer key suggests 56,175 and 93,625, which implies a different valuation method (likely including expenses).

Multiple choice

Anushka and Avani entered into joint venture contributing Rs$5,00,000$ each into joint bank account to share the profit or loss equally. It was agreed to pay commission @ $8\%$ on the sale made by each of them. They purchased goods for Rs$8,00,000$ and Anushka sold $60\%$ of the same for Rs$5,20,000$. Rs$25,700$ was spent on loading and unloading. $30\%$ of goods were sold by Avani for Rs$3,00,000$. Closing stock was taken by the ventures in the ratio of $3:2$ at cost price of purchased amount of goods and the venture's A/c settled from joint bank A/c. For unsold goods taken over by Anushka Joint Venture A/c will be credited for....
  1. Rs$49,542$
  2. Rs$33,028$
  3. Rs$32,000$
  4. Rs$48,000$
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The total cost of goods is 8,00,000. Anushka sold 60% (4,80,000 cost) and Avani sold 30% (2,40,000 cost). The remaining 10% (80,000 cost) is the closing stock. Since the ratio of taking over is 3:2, Anushka takes 3/5 of 80,000 = 48,000.

Multiple choice

A trader mixes 48 kg of wheat at Rs. 22 per kg with 56 kg of wheat at Rs. 43 per kg and sells the mixture at Rs. 35 per kg. What will be the profit or loss percentage?

  1. 5.08% Loss

  2. 5.08% Gain

  3. 6.08% Gain

  4. 10.16% Loss

  5. 10.08% Gain
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Total cost = (48 * 22) + (56 * 43) = 1056 + 2408 = 3464. Total quantity = 48 + 56 = 104 kg. Total selling price = 104 * 35 = 3640. Profit = 3640 - 3464 = 176. Profit % = (176 / 3464) * 100 = 5.08%.

Multiple choice

R bought 50 kg of sugar 'A' at the rate of Rs. 30/kg and another 70 kg of sugar 'B' at Rs. 27/kg. He mixed both the sugars and sold the mixture at the rate of Rs. 35/kg. Find his profit percentage.

  1. 19.28%

  2. 23.89%

  3. 23.12%

  4. 12.84%

  5. 21.87%
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Total cost = (50 * 30) + (70 * 27) = 1500 + 1890 = 3390. Total weight = 120 kg. Total revenue = 120 * 35 = 4200. Profit = 4200 - 3390 = 810. Profit percentage = (810 / 3390) * 100 = 23.89%.