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

Directions: In this problem, a question is given followed by three statements numbered I, II and III. Read the statements carefully and decide which of them is/are sufficient/required to answer the question. What was the percentage profit earned by selling an iron box? I. The cost price of the iron box was Rs. 340. II. Had it been sold for Rs. 550, the profit would have been Rs. 210. III. The profit was more than the 50% of the cost price.

  1. Either I or II

  2. Only II

  3. Both II and III

  4. Either II or III

  5. Only III
Reveal answer Fill a bubble to check yourself
B Correct answer
Multiple choice

Directions: In this problem, a question is given followed by three statements numbered I, II and III. Read the statements carefully and decide which of them is/are sufficient/required to answer the question. How much profit did Reena earn on the cost price of a book by selling it? I. She had received a 20% discount on the marked price at the time of purchase. II. She sold it for Rs. 3090. III. She earned a 4% profit on the marked price.

  1. Only I and II

  2. Only II

  3. Only I and III

  4. All I, II and III

  5. Only II and III
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

To find profit on cost price, we need CP and SP. Statement I gives discount on MP (CP = 0.8 MP). Statement III gives profit on MP (SP = 1.04 MP). Statement II gives SP = 3090. With all three, we can find MP, then CP, then profit.

Multiple choice

Directions: In the following question, you have to find out the redundant statement(s) for determining the answer of the given question. A Movado watch is sold at 20% discount. Find the percentage gain. I. If the watch had been sold for Rs. 1500 less, there would have been no profit no loss. II. Had the watch been sold for Rs. 500 more, the gain would have been 15%. III. The cost price of the watch is Rs. 10,000.

  1. Only I or III

  2. Any one of them

  3. Either I or II

  4. Any two of them

  5. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Multiple choice

A person buys two pairs of shoes from a wholesale market at different prices and sells in the local market at the same prices. On one pair of shoes, he makes a profit of 5% while on the other, he loses 5%. What is the total gain or loss percent?

  1. 0.25% gain

  2. 0.25% loss

  3. 0.5% loss

  4. 0.5% gain

  5. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

When two items are sold at the same price, one at x% profit and one at x% loss, the overall result is always a loss of (x/10)^2 percent. Here x = 5, so loss = (5/10)^2 = 0.5^2 = 0.25% loss.

Multiple choice

Directions: In this problem, you have to find out which of the following statements is/are redundant for determining the answer of the given question or can be dispensed with. A retailer sells an i-phone at 12.5% discount. Find the profit percentage. I. Difference between marked price and selling price is Rs. 3750. II. Had the article been sold for Rs. 1750 more, there would have been no profit no loss. III. Cost price of the article is Rs. 28,000.

  1. Either I or III

  2. Any one of them

  3. Either I or II

  4. Any two of them

  5. None
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The profit percentage can be calculated if we know the discount (12.5%) and the relationship between CP and MP. Statement I gives the absolute value of the discount, Statement II relates SP to CP, and Statement III gives CP. Any one of these is sufficient to find the missing link to calculate the profit percentage.

Multiple choice

Directions: You are given two quantities, Quantity I and Quantity II. Compare the two quantities and choose the correct option accordingly. The cost price of 20 articles is the same as the selling price of x articles and the profit is 25%. Quantity I. x The cost price of 15 articles is the same as the selling price of y articles and loss is 25%. Quantity II. y

  1. Quantity I > Quantity II

  2. Quantity I < Quantity II

  3. Quantity I = Quantity II

  4. No relation
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Quantity I: CP of 20 = SP of x. Profit 25% means SP = 1.25 CP. So 20 = 1.25x, x = 16. Quantity II: CP of 15 = SP of y. Loss 25% means SP = 0.75 CP. So 15 = 0.75y, y = 20. Since 16 < 20, Quantity I < Quantity II.

Multiple choice

Rahul sells a mobile at a discount on its marked price of Rs. 2500. In a clearance sale, he gives an additional discount of 20%, thus selling it at Rs. 1500. Find the first discount.

  1. 20%

  2. 25%

  3. 12%

  4. 15%

  5. 18%
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let the first discount be x%. The price after the first discount is 2500 * (1 - x/100). After a further 20% discount, the price is 2500 * (1 - x/100) * 0.8 = 1500. Solving for x: (1 - x/100) = 1500 / (2500 * 0.8) = 1500 / 2000 = 0.75. So x = 25.

Multiple choice

Big Cinemas offers a discount of 64% for payment through Paytm on movie tickets. How much percent the cost price of movie tickets must be marked to make a profit of 8%?

  1. 105

  2. 110

  3. 300

  4. 200

  5. 240
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let CP = 100. To get 8% profit, SP = 108. Discount is 64%, so SP = 0.36 * MP. 0.36 * MP = 108, so MP = 300. MP is 300% of CP, or marked up by 200%. The question asks for the marked price as a percentage of cost price, which is 300.