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

Two watches were sold at Rs. 1050 each. On one, a gain of 11% was earned and on the other, a loss of 11% was suffered. How much percent loss or percent gain is made in the whole transaction?

  1. Loss 1.21%

  2. No gain, no loss

  3. Gain 1%

  4. Loss 1%

  5. Loss 2%
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Here, the sale price of the two watches is the same.

Gain% = loss% = 11%

In such a case, there is always a loss. 

To find overall loss%, use this shortcut formula: 

Overall % loss = (x/10)2

= (11/10)2

= 1.21%

Multiple choice

A man sold two almirahs for Rs. 4500 each. On one, he gains 12.5% and on the other, he loses 10%. Find the overall percentage gain or loss in the whole transaction.

  1. 2.5% gain

  2. 2% loss

  3. No profit, no loss

  4. Data inadequate

  5. 1% gain
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let %gain on first almirah (g) be 12.5% and %loss on second almirah (l) be 10%.

Then, overall profit/loss% = 100 - (100 + g)(100 - l)/[(100 + g) + (100 - l)] 

= 100 - (100 + 12.5)(100 - 10)/[(100 + 12.5) + (100 -10)] 

= 100 - 100 

= 0%

So, there is no profit and no loss.

Multiple choice

A man sells a book at profit of 30%. If he had bought it at 10% less and sold it for Rs. 8 less, he would have gained 40%. Find the cost price of the book.

  1. Rs. 250

  2. Rs. 300

  3. Rs. 200

  4. Rs. 350

  5. Rs. 225
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let the CP of the book be Rs. x. 

Now, if the profit = 30% 

Then SP = CP(100 + Profit)/100 

= x(100 + 30)/100 

= 130x/100 

If the CP is 10% less and SP is Rs. 8 less,

Then CP = X - X * 10/100 = 90X/100

Now, according to the question,

[90x(100 + 40)]/(100 * 100) = 130x/100 - 8 

After solving this equation,

x = 200 

So, cost price of the book is Rs. 200.

Multiple choice

How much percent above the cost price should a shopkeeper mark his goods so as to earn a profit of 30% after allowing a discount of 12% on the marked price?

  1. 47.73%

  2. 45.72%

  3. 40.75%

  4. 40%

  5. 45.5%
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Let the CP of goods be Rs. x.

MP has been marked y% above the CP. 

So, MP of goods = x + xy/100 

Now, according to question,

(x - xy/100) - (x - xy/100) * (12/100) = 130x/100 

After solving this equation, we get

y = 47.73%

So, the marked price will have to fixed 47.73% above the cost price.

Multiple choice

A man sells his car for Rs. 3 lakh and loses some amount. Had he sold it for Rs. 5.60 lakh, his gain would have been Rs. 0.40 lakh less than the former loss. Find the cost price of the car.

  1. Rs. 3.50 lakh

  2. Rs. 4.50 lakh

  3. Rs. 2.50 lakh

  4. Rs. 5 lakh

  5. Rs. 2 lakh
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let the CP of the car be Rs. x  lakh and loss be Rs. y lakh. 

Then, loss = CP - SP

y = x - 3 -------------------(1) 

Again y - 0.40 = 5.60 - x --------------------(2) 

After solving, we get 

x = 4.50 and y = 1.5

So, the CP of the car Rs. 4.50 lakh.

Multiple choice

On an article with a marked price of Rs. 10000, a customer has a choice between three successive discounts of 10%, 20% and 10% and three successive discounts of 20%, 15% and 5%. By choosing the better offer, how much can he save?

  1. Re. 0

  2. Rs. 40

  3. Rs. 80

  4. Rs. 20

  5. Rs. 30
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

SP in first case = (90% of 80% of 90% of Rs. 10000) = Rs. 6480 SP in second case = (80% of 85% of 95% of Rs. 10000) = Rs. 6460 So, second choice is better. Therefore, amount saved = Rs. (6480 - 6460) = Rs. 20