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

Harish bought a shirt and sold it at a gain of 5%. If he had bought it at 5% less and sold it for Rs. 1 less, he would have made a profit of 10%. What was the cost price of the shirt?

  1. Rs. 150

  2. Rs. 200

  3. Rs. 250

  4. Rs. 300

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

Let the cost price be x. Initial selling price is 1.05x. If cost price is 0.95x and selling price is 1.05x - 1, the profit is 10%, so 1.05x - 1 = 1.10 * 0.95x. Solving this gives 1.05x - 1 = 1.045x, which leads to 0.005x = 1, so x = 200.

Multiple choice

A shopkeeper, by selling 21 pairs of Nike shoes, earns a profit equal to the selling price of 5 pairs of Nike shoes. His profit percentage is

  1. 31.25 percent

  2. 23.8 percent

  3. 47.6 percent

  4. 16.35 percent
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Profit = SP of 5 pairs. Since Profit = SP - CP, we have SP(5) = SP(21) - CP(21). Thus, CP(21) = SP(16). This means SP/CP = 21/16. Profit percentage = ((SP-CP)/CP) * 100 = ((21-16)/16) * 100 = (5/16) * 100 = 31.25 percent.