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

Each question below is followed by two Statements [I] and [II]. You have to determine whether the data given in the statements are sufficient for answering the question. You should use the data and your knowledge of Mathematics to choose between the possible answers Ram sold an item. Find the M.P of the item? [I]. Ram gave two successive discounts of 20% & 5% on marked price but after that take 25% more on discounted price as tax. Ram can earn 40 more if he sell the item at MP. [II] .Ram gave two successive discount of MP i.e., 15% & 20% whereas Ram kept M.P. 50% more than the C.P. of that item.

  1. if the Statement [I] alone is sufficient to answer the question but the Statement [II] alone is not sufficient

  2. if the Statement [II] alone is sufficient to answer the question but the Statement [I] alone is not sufficient

  3. if both Statement [I] and [II] together are needed to answer the question

  4. if either the Statement [I] alone or Statement [II] alone is sufficient to answer the question

  5. ) if you cannot get the answer from the Statements [I] and [II] together but need even more data
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Statement I relates the difference between selling at marked price and selling after the stated discounts and tax to Rs. 40, allowing the marked price to be determined. Statement II gives only a percentage relation between marked price and cost price, with no actual amount, so it is insufficient alone.

Multiple choice

In the following questions, calculate quantity I and quantity II, compare them and answer (a) If quantity I > quantity II (b) If quantity I < quantity II (c) If quantity I ≥ quantity II (d) if quantity I ≤ quantity II (e) if quantity I = quantity II or no relation can be established Q. Quantity I, cost price of book (in Rs) : If the book is sold at a profit of 5% instead of 5% of loss, the shopkeeper get Rs 18 more. Quantity II, selling price of bottle (in Rs) : A shopkeeper marked up the price of the bottle by 50% and gives a discount of 50/3%. The cost price of the bottle is Rs 160.

  1. A

  2. B

  3. C

  4. D

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

Quantity I: 5% - (-5%) = 10% of CP = 18. CP = 180. Quantity II: Marked price = 160 * 1.5 = 240. Discount = 50/3% = 1/6. Selling price = 240 * (5/6) = 200. Since 180 < 200, Quantity I < Quantity II.

Multiple choice

Directions: In the question, two quantities are given, one as 'Quantity 1' and the other as 'Quantity 2'. You have to determine the relationship between the two quantities and choose the appropriate option. Quantity 1: Value of x, if a person marks his goods x% above the cost price and allows a discount of 20% on the marked price, and his profit is 7.5% Quantity 2: Value of y, if a person marks his good y% above the cost price and allows a discount of 220/13%, and his profit is 8%

  1. Quantity 1 < Quantity 2

  2. Quantity 1 > Quantity 2

  3. Quantity 2 ≥ Quantity 1

  4. Quantity 1 ≥ Quantity 2

  5. Quantity 1 = Quantity 2 or Relation cannot be established
Reveal answer Fill a bubble to check yourself
B Correct answer
Multiple choice

Directions: In the question, two quantities are given, one as 'Quantity 1' and the other as 'Quantity 2'. You have to determine the relationship between the two quantities and choose the appropriate option. The labelled price of a laptop bag is Rs. 1500 and two successive discounts, each of x% on the marked price, are equal to a single discount of Rs. 587.40. Quantity 1: Value of the selling price of the laptop bag, if a single discount of x% is given on the marked price Quantity 2: Value of 47/42 of the selling price of the laptop bag, if a single discount of (x + 8)% is given on the marked price

  1. Quantity 1 < Quantity 2

  2. Quantity 1 > Quantity 2

  3. Quantity 2 ≥ Quantity 1

  4. Quantity 1 ≥ Quantity 2

  5. Quantity 1 = Quantity 2 or Relation cannot be established
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Two successive discounts of x% on 1500 = 587.40. 1500 * (1 - x/100)^2 = 1500 - 587.40 = 912.60. (1 - x/100)^2 = 0.6084. 1 - x/100 = 0.78, so x = 22. Quantity 1: SP with 22% discount = 1500 * 0.78 = 1170. Quantity 2: SP with 30% discount = 1500 * 0.7 = 1050. 47/42 * 1050 = 1175. Since 1170 < 1175, Q1 < Q2.

Multiple choice

Directions: The following questions are accompanied by three statements A, B and C. You have to determine which statement(s) is/are sufficient necessary to answer the questions and mark your answer accordingly. Trader bought two markers A and B at different cost prices and sold at different selling prices. By selling 1 marker of both type A and B, whether the trader is in profit or in loss? (A) Cost price of 3 items of A is equal to selling price of 4 items of B and cost price of 5 item of B is equal to selling price of 6 item of A. (B) Trader earns 25% profit on selling 2 items of A and 50% loss on selling 10 articles of B and Cost price of 3 items of A is equal to selling price of 4 items of B. (C) Profit earn by selling 3 items of A is equal to loss occurs on selling 1 items of B.

  1. Any two of them

  2. A or B only

  3. B or C only

  4. Any one of them

  5. Either B Or A and C together
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

To determine profit or loss, we need the relationship between CP and SP for both items. Statement A provides relationships between CP and SP that allow calculating the net result. Statements B and C also provide sufficient information to determine the profit/loss status. Thus, any one of them is sufficient.

Multiple choice

Directions: Each question is followed by three statements. You have to study the question and all the three statements given and decide whether any information provided in the statement(s) is redundant and can be dispensed with while answering the questions. A person purchases an article from a shop for Rs. 11640 and the shopkeeper bears some losses. How much amount was required by the wholesaler to purchase the article if the wholesaler directly sold the article to the shopkeeper? A. The difference between the C.P. of the shopkeeper and that of the person is Rs. 360. B. Cost price of shopkeeper is 50/3% less than that of wholesaler. C. The wholesaler earns a profit of 20%.

  1. Any of them

  2. Any two of them

  3. Either B or C

  4. A and either B or C

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

In each of the following questions, read the given statement and compare the Quantity I and Quantity II on its basis. (only quantity is to be considered) Quantity I : The discount given by the shopkeeper on an article was 16% and the profit earned by the shopkeeper was 47%. If the shopkeeper marked the price of the article Rs. 600 more than the cost price of the article, then find at what percent more than the cost price the article was marked? Quantity II : The discount given by the shopkeeper was Rs. 1580 more than the profit earned by the shopkeeper. If the cost price of the article was Rs. 800 and the profit earned by the shopkeeper was 13.75%, then find the discount percent given by the shopkeeper.

  1. Quantity : I > Quantity : II

  2. Quantity : I ≥ Quantity : II

  3. Quantity : I < Quantity : II

  4. Quantity : II ≥ Quantity : I

  5. Quantity I = Quantity II or relation can't be established
Reveal answer Fill a bubble to check yourself
A Correct answer
Multiple choice

Each of the questions below consists of a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statements are sufficient to answer the question. Read both the statements and give answer: A shopkeeper sold two items of same marked price of Rs. 1500 at a profit of 20% and 25% respectively. Find the selling price of item B. Statement I : The discount offered by the shopkeeper for item A is 20% and the ratio of the cost price of item A to the cost price of item B is 10: 11 respectively Statement II : The selling price of item A and selling price of item B are in the ratio of 48: 55, respectively

  1. The data in statements I alone is sufficient to answer the question, while the data in statement II alone is not sufficient to answer the question.

  2. The data in statements II alone is sufficient to answer the question, while the data in statement I alone is not sufficient to answer the question.

  3. Either Statement I or Statement II alone is sufficient to answer the question.

  4. The data in both the statements I and II is not sufficient to answer the question.

  5. The data in both the statements I and II together is necessary to answer the question.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Statement I provides the discount on item A and the ratio of cost prices. Since we know the marked price of A, we can find its cost price and subsequently the cost price of B. With the profit percentage of B given in the prompt, we can calculate the selling price of B. Statement II is not needed.

Multiple choice

[CAT 2002] The questions is followed by two statements, I and II. Answer the question as per the instructions. A dress was initially listed at a price that would have given the store a profit of 20% of the wholesale cost. What was the wholesale cost of the dress? A. After reducing the listed price by 10%, the dress sold for a net profit of \$10. B. The dress is sold for \$50.

  1. if the question can be answered by one of the statements alone, but cannot be answered by using the other statement alone.

  2. if the question can be answered by using either statement alone.

  3. if the question can be answered by using both the statements together, but cannot be answered by using either statement alone.

  4. If the question cannot be answered even by using both statements together.
Reveal answer Fill a bubble to check yourself
A Correct answer
Multiple choice

Directions: Given below are two quantities named I and II. Based on the given information, you have to determine the relation between the two quantities. You are to use the given data and your knowledge of Mathematics to choose among the given options. Quantity I: Loss of 30% is incurred if a product is sold at half its list price. Profit percentage if the product is sold at the list price Quantity II: A shopkeeper sells his products at cost price and uses a false weight of 700 gm for 1 kg. Profit percentage of the shopkeeper

  1. Quantity I > Quantity II

  2. Quantity I < Quantity II

  3. Quantity I ≥ Quantity II

  4. Quantity I ≤ Quantity II

  5. Quantity I = Quantity II, or No relation
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Quantity I: Let list price be 100. Half price is 50. Loss of 30% means cost price is 50/0.7 = 71.42. Profit at list price (100) = (100-71.42)/71.42 = 40%. Quantity II: Profit = (Error / (True - Error)) * 100 = (300/700) * 100 = 42.85%. Thus, I < II.

Multiple choice

Directions: In these questions, two quantities numbered I and II are given. You have to solve both the quantities and give answer An article was sold at a profit of Rs 144 such that a discount of 25% was allowed while selling. The article was marked up at Rs 432 more than its cost price. Quantity I: The selling price of the article Quantity II: If the article was marked up at Rs 140 more than its cost price, what would have been the marked price of the article?

  1. Quantity I > Quantity II

  2. Quantity I < Quantity II

  3. Quantity I ≥ Quantity II

  4. Quantity I ≤ Quantity II

  5. Quantity I = Quantity II or a relation can't be established
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Let CP = x. Then MP = x + 432. SP = MP * 0.75 = 0.75(x + 432). Profit = SP - CP = 144. So 0.75x + 324 - x = 144, which means 0.25x = 180, so x = 720. Quantity I (SP) = 720 + 144 = 864. Quantity II: If MP = x + 140 = 720 + 140 = 860. Since 864 > 860, Quantity I > Quantity II.

Multiple choice

Each of the following questions below consists of a question and two statements numbered I and II given. You have to decide whether the data provided in the statements is sufficient to answer the questions. What is marked price of a chair? I. A shopkeeper purchases three chairs in total for Rs. 3600 and earns Rs. 240 on selling every two chairs after giving discount of 12% on each chair. II. A shopkeeper gives 20% discount on mark price of a chair and discount on chair is Rs. 700 less than cost price of a chair.

  1. if the data given in Statement I alone is sufficient to answer the question while the data in statement II alone is not sufficient to answer the question.

  2. if the data given in statement II alone is sufficient to answer the question while the data in Statement I alone is not sufficient to answer the question.

  3. if the data either in statement I alone or in statement II alone is sufficient to answer the question.

  4. If the data in neither statement I nor II is sufficient to answer the question.

  5. If the data in both statements I and II together is necessary to answer the question.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Statement I: 3 chairs cost 3600, so 1 chair = 1200. Selling 2 chairs earns 240 profit. This is not enough to find the marked price without knowing the discount percentage applied to the marked price. Statement II: 20% discount on MP, and discount = CP - 700. This is also not enough without knowing the CP or the SP.

Multiple choice

A goldsmith made 'n' number of identical ornaments, and the cost price of 'n' ornaments was \$40,000. Calculate the selling price of each ornament. It is given that the cost price of each ornament was same. 1. The selling price was 6% more than the cost price of each ornament. 2. The selling price per ornament was \$300 more than the cost price of each ornament.

  1. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient.

  2. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient.

  3. BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient.

  4. EACH statement ALONE is sufficient.

  5. Statements (1) and (2) TOGETHER are NOT sufficient.
Reveal answer Fill a bubble to check yourself
C Correct answer
Multiple choice

Directions: The following questions are accompanied by two statements A and B. You have to determine which statements(s) is/are sufficient/necessary to answer the questions. If selling price of a Lenovo Ideapad 330 is Rs. 24,000, then find marked price of Lenovo Ideapad 330. (A) If discount rate offered on Lenovo Ideapad 330 by shopkeeper is 8 4 7 % . (B) If the profit the shopkeeper got on Lenovo Ideapad 330 is 14 2 7 % and marked price of the laptop is 25% more than cost price of Lenovo Ideapad 330.

  1. Statement A alone is sufficient to answer the question, but statement B alone is not sufficient to answer the question.

  2. Statement B alone is sufficient to answer the question, but statement A alone is not sufficient to answer the question.

  3. Both the statements taken together are necessary to answer the question, but neither of the statements alone is sufficient to answer the question.

  4. Either statement A or statement B by itself is sufficient to answer the question.

  5. Statements A and B taken together are not sufficient to answer the question.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Statement A gives the discount rate, so MP = SP / (1 - discount rate), which is sufficient. Statement B gives the profit percentage (so CP can be found) and states MP is 25% above CP, so MP = CP x 1.25, which is also sufficient independently.

Multiple choice

A shopkeeper bought a dressing table from a wholesaler at Rs. 78,000. He marked the price of dressing table 25% above its cost price. He then sold it to a customer at 10% discount on M.R.P. The transaction is intra-state and rate of GST is 5%. What is the marker price (in Rs.) of dressing table and what is total amount (in Rs.) inclusive of tax paid by the customer?

  1. M.R.P = Rs. 97,800 and bill paid by the customer = Rs. 92,337.5

  2. M.R.P = Rs. 87,500 and bill paid by the customer = Rs. 92,127.5

  3. M.R.P = Rs. 97,500 and bill paid by the customer = Rs. 92,137.5

  4. M.R.P = Rs. 77,500 and bill paid by the customer = Rs. 92,137.5

  5. M.R.P = Rs. 67,500 and bill paid by the customer = Rs. 97,137.5
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Cost = 78000. MRP = 78000 * 1.25 = 97500. Selling Price = 97500 * 0.9 = 87750. GST = 5% of 87750 = 4387.5. Total = 87750 + 4387.5 = 92137.5.