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

Given below are three statements based on the following information: Jatin sold an article to Aradhya at 30% profit, which was further sold to Kiran by Aradhya at 20% profit. Kiran sold it to Rakesh at Rs. 20 profit. The difference between the cost prices of Jatin and Rakesh is Rs. 1,980. Statement I: Aradhya paid Rs. 4,540 for the article. Statement II: Rakesh paid Rs. 5,480 for the article. In light of the above statements, choose the correct answer from the options given below:

  1. Both Statement I and Statement II are true.

  2. Both Statement I and Statement II are false.

  3. Statement I is true, but Statement II is false.

  4. Statement I is false, but Statement II is true.

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

Let Jatin's CP be J. Aradhya's CP = 1.3J. Kiran's CP = 1.2 * 1.3J = 1.56J. Rakesh's CP = 1.56J + 20. Difference between J and Rakesh: |1.56J + 20 - J| = 1980 => 0.56J = 1960 => J = 3500. Aradhya's CP = 1.3 * 3500 = 4550. Rakesh's CP = 1.56 * 3500 + 20 = 5460 + 20 = 5480. Statement I (4540) is false, Statement II (5480) is true.

Multiple choice

Given below are two statements: Statement I: The difference between the cost price and sale price of an article is Rs. 240. If the profit is 20%, then the selling price is Rs. 1,440. Statement II: If the cost price of 10 DVDs is equal to the selling price of 7 DVDs, then the gain percent is 42 6 7 . In the light of the above statements, choose the most appropriate answer from the options given below:

  1. Both Statement I and Statement II are correct.

  2. Both Statement I and Statement II are incorrect.

  3. Statement I is correct, but Statement II is incorrect.

  4. Statement I is incorrect, but Statement II is correct.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Statement I: Profit = 20%, SP - CP = 240. 0.2 * CP = 240 => CP = 1200. SP = 1200 + 240 = 1440. Correct. Statement II: 10 * CP_dvd = 7 * SP_dvd. SP/CP = 10/7. Gain = 3/7 = 42.85% = 42 6/7%. Correct.

Multiple choice

A manufacturer manufactures smartphones of two different brands, A and B. The cost of manufacturing the brand A smartphone is \$200, while the cost of manufacturing the brand B smartphone is \$350. The manufacturer sets the price of the brand A smartphone 50% higher than its manufacturing cost; similarly, he sets the price of the brand B smartphone 30% higher than its manufacturing cost. While selling, the manufacturer offers a 15% discount on the brand A smartphone and a 10% discount on the brand B smartphone. Calculate the overall profit on one smartphone of brand A and one smartphone of brand B.
  1. $111.5
  2. $114.5
  3. $124.5
  4. $134.5
  5. $144.5
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Brand A: Cost = 200, Price = 300, Discounted SP = 300 * 0.85 = 255. Profit = 55. Brand B: Cost = 350, Price = 455, Discounted SP = 455 * 0.9 = 409.5. Profit = 59.5. Total Profit = 55 + 59.5 = 114.5.

Multiple choice

Two shops offer discounts on a particular item having different marked prices. Is the discounted price is lower at the second shop? Statement 1: The first shop's discounted price is 12% lower than its marked price. The second shop's discounted price is 18% lower than its marked price. Statement 2: The first shop's discount is Rs. 720. The second shop's discount is Rs. 900.

  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
Explanation

Statement 1 gives percentages but no absolute prices, so we cannot compare the final prices. Statement 2 gives discounts but not the marked prices, so we cannot determine the final prices. Together, we can find the marked prices and then the discounted prices.

Multiple choice

Directions: The question given below is followed by two statements labelled I and II. You have to determine whether the data given in the statements is sufficient for answering the question. You should use the data and your knowledge of Mathematics to choose the best possible answer. A vendor purchased some goods at 32% less than the marked price. Find the original marked price, if he made a profit of 20% after selling those goods. (I) Sum of cost price of the item and selling price was Rs. 17,952. (II) Profit made was equal to Rs. 1,632

  1. The question can be answered by using statement-I alone, but cannot be answered using the other statement alone.

  2. The question can be answered by using statement-II alone, but cannot be answered using the other statement alone.

  3. The question can be answered by using either of the statements alone.

  4. The question can be answered using both the statements together, but cannot be answered using either of the statements alone.

  5. The question cannot be answered even by using both the statements together.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let MP = M. CP = 0.68M. Profit = 20% of CP = 0.2 * 0.68M = 0.136M. SP = CP + Profit = 0.68M + 0.136M = 0.816M. Statement I: CP + SP = 17952 => 0.68M + 0.816M = 17952. This allows solving for M. Statement II: Profit = 1632 => 0.136M = 1632. This also allows solving for M.

Multiple choice

Mr. Rajan is a shopkeeper, who sell a branded leather wallet at his store. The cost price of the wallet is Rs. A. He marks the price up by B% above its cost price. After giving a 20% discount on the marked price, he earns a profit of Rs. (B + 80). If he marks the same wallet (B + 20)% above the cost price and gives the same discount, he earns a profit of Rs. (B + 240). Which of the following statements is/are correct? 1. A - 200 = 20B 2. A 10 + 16B = 1,070 3. 60% of A is 6004. 0.8A ( 1 + B 100 ) < 1,400

  1. Only statements 1 and 2 are correct.

  2. Only statements 1 and 4 are correct.

  3. Only statements 2 and 3 are correct.

  4. Only statements 1, 3, and 4 are correct.

  5. All statements are correct.
Reveal answer Fill a bubble to check yourself
D Correct answer
Multiple choice

Determine the cost price of the mobile phone. Statement I: The mobile phone is marked up by M% above its cost price and sold at a 20% discount. The shopkeeper manages to earn a 32% profit. Statement II: If the shopkeeper offers a 40% discount on the marked price, then shopkeeper still earns a loss of Rs. 48. Statement III: If no discount is offered on the marked price, the selling price is Rs. 3,120 more than the cost price.

  1. Either statement (I) alone or statement (II) alone is sufficient to answer the question

  2. Statements I and either statement II or statement III together sufficient to answer the question

  3. All the three statements taken together are necessary to answer the question

  4. Statements II and III taken together are necessary to answer the question

  5. Statements I and II taken together or statements II and III taken together are necessary to answer the question
Reveal answer Fill a bubble to check yourself
B Correct answer
Multiple choice

Find the cost price of a laptop. I. A seller marks up the laptop at \$450 above the cost price and allows a discount of 12% on the marked price, thereby making a profit of 10%. II. If the laptop is sold at a profit of 15%, then the difference between the selling price and the cost price of the laptop is \$270.

  1. Neither statement (I) nor statement (II) by itself is sufficient to answer the question.

  2. Statement (II) alone is sufficient to answer the question, but statement (I) alone is not sufficient.

  3. Either statement (I) or statement (II) by itself is sufficient to answer the question.

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

  5. Statement (I) alone is sufficient to answer the question, but statement (II) alone is not sufficient.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Statement I: Let CP = x. MP = x + 450. SP = 0.88(x + 450). Profit = SP - CP = 0.1x. This allows solving for x. Statement II: Profit = 0.15x = 270. This also allows solving for x. Both are sufficient independently.

Multiple choice

Directions: This data sufficiency problem consists of a question and two statements labeled (1) and (2). You have to decide whether the data given in the statements are sufficient for answering the question. What was the price at which a merchant sold a laptop? (1) The merchants profit on laptop was 25% of the price at which he sold the laptop. (2) The price at which he sold the laptop was $200 more than the merchants cost of laptop.

  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 (1) and (2) 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
Explanation

Statement 1 says the profit is 25% of the selling price, but gives no numerical amount. Statement 2 gives only the difference between selling price and cost, also without a numerical value. Together, profit is 25% of the selling price and equals \$200, so the selling price is \$800.

Multiple choice

Directions: The question below is followed by two statements A and B. You are to determine whether the data given in the statement is sufficient for answering the question. You should use the data and your knowledge of mathematics to choose between the possible answer. What is the profit earned by Selling a chair for Rs. 250/-? (A) The cost price of 10 such chairs is equal to selling price of 8 such chairs. (B) 25% profit is earned by selling 4 such chairs.

  1. If the statement (A) alone is sufficient to answer the question, but the statement B alone is not sufficient.

  2. If the statement (B) alone is sufficient to answer the question, but the statement A alone is not sufficient.

  3. If both statements (A) and (B) together are needed to answer the question.

  4. If either the statement (A) alone or statement (B) alone is sufficient to answer the question.

  5. If you cannot get the answer from the statement (A) and (B) together, but need even more data.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Statement A: 10*CP = 8*SP, so SP/CP = 10/8 = 1.25. Profit is 25%. This allows calculating the profit amount if the CP is known, but the question asks for profit earned by selling for 250. With SP=250 and profit=25%, CP=200, profit=50. Statement B: 25% profit is earned. This also allows calculating the profit amount. Both are sufficient independently.

Multiple choice

Directions: The question below consists of a question and two statements numbered (1) and (2). You have to decide whether the data provided in the statements is sufficient to answer the question. Read both the statements and give answer. A jewellery dealer initially offered a bracelet for sale at an asking price that would give a profit of 40 percent of the original cost to the dealer. What was the original cost of the bracelet?(1) After reducing this asking price by 10 percent, the jewellery dealer sold the bracelet at a profit of \$403. (2) The jewellery dealer sold the bracelet for \$1,953.

  1. if statement (1) alone is sufficient but statement (2) alone is not

  2. if statement (2) alone is sufficient but statement (1) alone is not

  3. if both (1) and (2) together are sufficient but none of them alone is sufficient

  4. if both independently are sufficient

  5. if both statements (1) and (2) together are not sufficient
Reveal answer Fill a bubble to check yourself
D Correct answer
Multiple choice

Directions: The question is followed by data in the form of two statements labelled as I and II. You must decide whether the data given in the statements are sufficient to answer the question. Using the data, make an appropriate choice from (1) to (4) as per the following guidelines: What is the cost price of an item? I. It is sold for Rs. s at a loss of 10%. II. If it is sold for Rs. (s + 50), the profit will be 5%.

  1. Mark choice (1) if the statement I alone is sufficient to answer the question.

  2. Mark choice (2) if the statement II alone is sufficient to answer the question.

  3. Mark choice (3) if both the statements I and II are sufficient to answer the question but neither statement alone is sufficient.

  4. Mark choice (4) if both the statements I and II together are not sufficient to answer the question and additional data is required.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

From I: SP = 0.9 * CP = s. From II: SP = 1.05 * CP = s + 50. We have two equations with two variables (CP and s), so both statements are needed to solve for CP.

Multiple choice

Directions: An outlet retailer deals in all types of items ranging from clothes to general store items. He works out the price of an item in the following way: 1. The CP of the item is multiplied by 0.7 and 1.9 to obtain the price range of the product. 2. The marked price of the item is fixed at 1/8th of the sum of thrice the lowest value of price and 4 times the highest value of price. 3. Finally, a 5% discount is given on the article. What is the profit earned by the outlet retailer on purchase of an item by a customer that costs$1200 to the outlet retailer?
  1. $282.25
  2. $182.25
  3. $82.25
  4. $180

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

CP is 1200. Price range is 1200 * 0.7 = 840 (low) and 1200 * 1.9 = 2280 (high). Marked Price = (1/8) * (3 * 840 + 4 * 2280) = (1/8) * (2520 + 9120) = 11640 / 8 = 1455. Selling Price after 5% discount = 1455 * 0.95 = 1382.25. Profit = 1382.25 - 1200 = 182.25.

Multiple choice

Directions: The question 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 is sufficient to answer the question. Read both the statements and mark the correct option. An article was sold after giving discount on the marked price. What was the discount percentage given? I. The profit earned after giving the discount is 20%. Had the percentage of discount been doubled, the seller would have incurred a loss of 4%. II. Marked price of the article is 60% above the cost price of the article.

  1. The data in statement (I) alone is sufficient to answer the question.

  2. The data in statement (II) alone is sufficient to answer the question.

  3. The data in both the statements together is needed.

  4. Either statement (I) alone or statement (II) alone suffices to answer the question.

  5. Even by combining both the statements the answer can not be found.
Reveal answer Fill a bubble to check yourself
C Correct answer
Multiple choice

The ratio of cost prices of two mobile phones Samsung and Jio is 3 : 5. The cost price (CP) of Jio phone is Rs. 8000 more than the cost price of Samsung phone. If the profit on Samsung phone is P% and the loss on Jio phone is (P + 12)%, then selling prices of both phone become equal. Also, the shopkeeper gives D% discount on the marked price (MP) of Samsung phone and (D - 5)% discount on MP of Jio phone. If the MP of Samsung phone is Rs. 1175 more than the MP of Jio phone, then what are the marked prices of Samsung phone and Jio phone, respectively? (a) Rs. 18,800 and Rs. 17,625 (b) Rs. 14,800 and Rs. 12,625 (c) Rs. 16,800 and Rs. 18,625 (d) Rs. 18,900 and Rs. 19,625 (e) Rs. 13,800 and Rs. 17,625

  1. a

  2. b

  3. c

  4. d

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

Solving the system of equations for cost prices and profit/loss percentages leads to the marked prices. Given the ratio 3:5 and the difference of 8000, CP(S)=12000 and CP(J)=20000. Using the SP equality and discount relations confirms option A.