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

A dishonest shopkeeper marks his goods 30% above cost price and gives a discount of 15%. He also uses a false balance, giving 800 g instead of 1 kg. Find his overall profit percentage.

  1. 38.125%

  2. 24.425%

  3. 32.124%

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

Let CP of 1000g be 1000. Marked price = 1300. Discount 15% = 1300 * 0.85 = 1105. He gives 800g for the price of 1000g, but the cost of 800g is 800. Profit = 1105 - 800 = 305. Profit % = (305 / 800) * 100 = 38.125%.

Multiple choice

A dishonest trader claims to sell goods at cost price but uses a faulty weight. If he gains 20% by using false weights and also gives a 5% discount on the marked price, what weight (in kg) does he actually use instead of 1 kg?

  1. 850 g

  2. 792 g

  3. 800 g

  4. 899 g
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let the cost price of 1 kg of goods be 1000 units. Since he offers a 5% discount on this claimed cost price, his selling price is 950 units. To make a 20% profit on his actual cost, the cost of the weight he actually delivers must satisfy 1.2 * actual weight = 950. Solving this gives an actual weight of approximately 791.67 g, which rounds to 792 g.

Multiple choice

An item with a cost price of Rs. 1650 is sold at a certain discount on a fixed marked price to earn a profit of 20% on the cost price. If the discount was doubled, the profit would have been Rs. 110. The rate of discount, in percentage, at which the profit percentage would be equal to the rate of discount, is nearest to

  1. 16

  2. 18

  3. 14

  4. 12
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let CP = 1650, Profit = 20% of 1650 = 330. Selling Price (SP) = 1980. Let MP be M and discount be D. SP = M - D = 1980. If discount is doubled, SP' = M - 2D = 1980 - 110 = 1870. Subtracting equations: D = 110. Then M = 2090. Discount rate = (110/2090) * 100 = 5.26%. Finding where profit % = discount % involves setting (SP - CP)/CP = (MP - SP)/MP. Solving this yields approximately 14%.

Multiple choice

The monthly sales of a product from January to April were 120, 135, 150 and 165 units, respectively. The cost price of the product was Rs. 240 per unit, and a fixed marked price was used for the product in all the four months. Discounts of 20%, 10% and 5% were given on the marked price per unit in January, February and March, respectively, while no discounts were given in April. If the total profit from January to April was Rs. 1,38,825, then the marked price per unit, in rupees, was

  1. 520

  2. 525

  3. 510

  4. 515
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let MP be the marked price. Total sales = 120+135+150+165 = 570 units. Profit = Total Revenue - Total Cost. Revenue = (120*0.8 + 135*0.9 + 150*0.95 + 165*1.0) * MP. Total Cost = 570 * 240 = 136800. Profit = 138825. Revenue = 275625. Solving for MP gives 525.

Multiple choice

A trader declares that he will sell his commodity at 10% profit over his cost price. However, he alters his weighing balance to sell 10% less to each customer. What is his true profit margin in percent?

  1. 10

  2. 22.22

  3. 20

  4. 33.33
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let cost price be 100 per unit. Selling price = 110. He sells 10% less, meaning he gives 0.9 units for the price of 1.1 units. Effective cost for 0.9 units is 90. Profit = 110 - 90 = 20. Profit percentage = (20 / 90) * 100 = 22.22 percent.

Multiple choice

A vendor buys 70 kg of premium rice and sets a marked price to gain 20% profit. He sells 10 kg at this price, and 30 kg at a 10% discount. Accidentally, 6 kg of rice is spoiled. He sells the remaining rice by increasing the marked price by p per cent, in order to make an overall profit of 15% on the entire 70 kg stock. Then p is nearest to:

  1. 17%

  2. 21%

  3. 25%

  4. 37%

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

Let the cost price per kilogram be 1, so the marked price is 1.2. The first 40 kg earns 12 + 32.4 = 44.4, and the remaining 24 kg must produce 80.5 - 44.4 = 36.1 for a 15% overall profit. Thus the required price is about 1.504 per kilogram, which is about 25.3% above the marked price.

Multiple choice

A mobile retailer sells three smartphones in a day—Brand A, Brand B, and Brand C. The total cost price of the three phones is Rs. 80,000. The retailer earns profit (on cost price) at the following rates: Brand A: 12%, Brand B: 6% and Brand C: 9%. The cost price of Brand B phone is half the cost price of the Brand C phone. If the total profit for the day is Rs. 7,200, then the profit earned from the Brand B phone (in Rs.) is:

  1. 600

  2. 800

  3. 1060

  4. 1200
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Let C_B = x, then C_C = 2x. C_A + x + 2x = 80000 => C_A = 80000 - 3x. Profit = 0.12(80000-3x) + 0.06x + 0.09(2x) = 7200. 9600 - 0.36x + 0.06x + 0.18x = 7200. 2400 = 0.12x => x = 20000. Profit from B = 0.06 * 20000 = 1200.

Multiple choice

A farmer sells 100 kilograms (kg) of apples at \$2.50 per kilogram and 50 kg of oranges at \$3.50 per kg. If the cost price of apples is \$1.80 per kg and the cost price of oranges is \$2.20 per kg, what is the total profit?
  1. $150
  2. $145
  3. $140
  4. $135
  5. $130
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Apples: SP = 100 * 2.5 = 250, CP = 100 * 1.8 = 180. Profit = 70. Oranges: SP = 50 * 3.5 = 175, CP = 50 * 2.2 = 110. Profit = 65. Total profit = 70 + 65 = 135.

Multiple choice

A watch retailer purchases a luxury watch for $1,200 and marks it up by 25%. Later, the retailer offers a 20% discount on the marked price. What is the store's profit or loss percentage on the watch after the discount?

  1. 0% (no profit, no loss)

  2. 2% profit

  3. 4% profit

  4. 5% profit

  5. 10% profit
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Cost price = 1200. Marked price = 1200 * 1.25 = 1500. Selling price = 1500 * 0.80 = 1200. Since SP = CP, the profit/loss is 0%.

Multiple choice

A sports shop offers an 18% discount on the marked price of each racket. A school buys 10 identical rackets. The cost price per racket is Rs. 164. Even after giving the discount, the shopkeeper makes a 25% profit on the sale. What is the marked price per racket?

  1. Rs. 240

  2. Rs. 270

  3. Rs. 250

  4. Rs. 280
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Cost price = 164. Profit = 25%, so Selling Price = 164 * 1.25 = 205. Discount = 18%, so SP = MP * (1 - 0.18) = 0.82 * MP. 205 = 0.82 * MP, so MP = 205 / 0.82 = 250.