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: Answer the questions independently of each other. A dealer bought rice worth Rs.1700 and sold 50% of it at the marked price gaining 8% in a particular month. There was an inflation of 4% in the price of rice the following month. What percentage discount (on the inflated M.P.) has to be given to makean overall profit of 9% on the rice bought?

  1. 2.1%

  2. 2.6%

  3. 3%

  4. 3.4%
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Cost = 1700. Target profit = 9% of 1700 = 153. Total revenue needed = 1853. 50% of rice (850 cost) sold at 8% profit = 850 * 1.08 = 918. Remaining 850 cost + 4% inflation = 884 cost. Revenue needed from remaining = 1853 - 918 = 935. Marked price of remaining = 884 * 1.08 (to get 8% profit) = 954.72. Discount needed = (954.72 - 935) / 954.72 = 2.06%.

Multiple choice

Directions: Answer the questions independently of each other. A dishonest shopkeeper sells sugar at cost price but makes 25% profit by using faulty weights. He decides to give a discount to attract more customers. What percent of discount should he offer to make 12% profit?

  1. 15.2%

  2. 12.5%

  3. 10.4%

  4. 13%
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let the true weight be 1000g and the faulty weight be x. Since he makes 25% profit at cost, he sells 1000g worth of sugar for the price of 1250g. To make 12% profit on cost, he must sell 1000g for 1120. The discount required is (1250 - 1120) / 1250 = 130 / 1250 = 10.4%.

Multiple choice

Directions: Answer the questions independently of each other. A car dealer sells 4 cars at Rs.300000 each. He makes a profit of 10% and 5% on two of the cars and makes a loss of 15% on the third car. At what approximate cost price must he have bought the fourth car to make an overall profit of 8%?

  1. Rs.200000

  2. Rs.151000

  3. Rs.127000

  4. Rs.258000
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Total sales = 4 * 300,000 = 1,200,000. Total cost price (CP) for 8% profit = 1,200,000 / 1.08 = 1,111,111. CP of first three cars: 300,000/1.1 + 300,000/1.05 + 300,000/0.85 = 272,727 + 285,714 + 352,941 = 911,382. CP of fourth car = 1,111,111 - 911,382 = 199,729, which is approximately 200,000.

Multiple choice

Directions: Answer the question independently. Joseph is a trader who buys and sells cars. He purchased a car at 25% less than its normal purchase price and sold it at 10% more than its normal selling price. As a result of this his profit percentage increased by 50 percentage points. If percentage margin is profit taken as a percentage of the selling price, then what is the percentage margin of Joseph in a normal transaction?

  1. 9%

  2. 25/7%

  3. 7%

  4. 20/3%
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Let CP = 100, SP = 100 + P. Margin = P / (100 + P). New CP = 75, New SP = 1.1(100+P). New Profit = 1.1(100+P) - 75 = 35 + 1.1P. New Profit % = (35 + 1.1P) / 75 * 100. The problem states this is 50 points higher than original profit %. Solving this yields the margin.

Multiple choice

Directions : Select the correct alternative from the given choices. A retailer bought different items among his supplies at different prices and then fixed the selling price of each item at 40% more than what the respective item had cost him. In order to clear his stocks on account of year-end sales, he reduced the selling price of each item by 30%. What would be his actual profit or loss percentage due to this reduction?

  1. 2% loss

  2. 8% loss

  3. 10%profit

  4. 12%loss
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Let CP = 100. Marked Price = 140. Selling Price = 140 * 0.7 = 98. Profit/Loss = 98 - 100 = -2. So, a 2% loss.

Multiple choice

Directions : Select the correct alternative from the given choices. A trader claims to sell vegetables at a profit of 20% over his cost price. If he uses a false weight and weighs only 800 gm instead of 1000 gm, what is his overall profit percentage?

  1. 25%

  2. 40%

  3. 50%

  4. 60%
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The trader marks up by 20% (selling 1000g for the price of 1200g equivalent). By using 800g instead of 1000g, he gains on the weight. The effective profit is ((1.2 * 1000 / 800) - 1) * 100 = (1.5 - 1) * 100 = 50%.

Multiple choice

Mohit purchased a car for Rs. 7,20,000 and sold it at a loss of 10 percent. With that amount he purchased another car and sold it at a gain of 10 percent. What was her overall gain/loss?

  1. Loss of Rs. 7200

  2. Profit of Rs. 7200

  3. Loss of Rs. 642.80

  4. Profit of Rs. 642.80

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

First car: Loss of 10% on 720000 = 72000. Selling price = 648000. Second car: Gain of 10% on 648000 = 64800. Overall loss = 72000 - 64800 = 7200.

Multiple choice

Kiran bought three different types of sugar such as A, B and C. Combined cost of type A and B is Rs.120 and the ratio of the cost of type A to type B is 7 : 5 and type C is 10 rupees less than the cost of type B . All the types of sugar are bought in the ratio 3 : 5 : 7 and mixed and after that one-fifth of the mixture is sold for Rs. 80 per kg. At what price, Kiran should sell the remaining mixture to make an overall profit of 40%?

  1. Rs. 51.50

  2. Rs. 60.30

  3. Rs. 66.33

  4. Rs. 71.25

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

Cost of A+B = 120, ratio 7:5 means A=70, B=50. C = B-10 = 40. Quantities in ratio 3:5:7. Total cost for 15 units = 3*70 + 5*50 + 7*40 = 210 + 250 + 280 = 740. Total profit needed 40% = 740 * 1.4 = 1036. One-fifth sold for 80 (3 units * 80 = 240). Remaining 12 units need to be sold for 1036 - 240 = 796. Price = 796 / 12 = 66.33.