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 maths money math different discounts successive discounts problems on discounts

Find the selling price of an article, if a shopkeeper allows two successive discount of $5\%$ each on the marked price of Rs. $ 80$

  1. Rs $61.70$
  2. Rs $67.30$
  3. Rs $72.20$
  4. Rs $77.10$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Given, M.P$=$ Rs. $80$

Two successive  Discount each $=5\%$

$\therefore $ S.P after first discount$=80-5\%$ of $80$

$\Rightarrow 80-\dfrac{5}{100}\times 80$

$\Rightarrow 80-4=$ Rs. $76$

Selling price after second discount $=76-5\% $ of $  76$

$\Rightarrow 76-\dfrac{5}{100}\times 76$

$\Rightarrow 76-3.80=$ Rs. $72.20$

Multiple choice maths money math different discounts successive discounts problems on discounts

The marked price of a watch is Rs 800. A customer gets two successive discounts on the marked price, the first being 10%. What is the second discount if the customer pays Rs 612 for it?

  1. 14%

  2. 15%

  3. 17%

  4. 18%
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

$M.P. =Rs 800$, First discount $=$ 10%
$\therefore$ Net price after the first discount $= 90$% of $Rs 800 = 0.9 \times Rs 800 =Rs 720$
Final price after the second discount $=Rs 612$
$\therefore$ Second discount $=Rs 720 -Rs 612 =Rs 108$
$\Rightarrow$ Second discount rate $=\frac {108}{720}\times 100$% $= 15$%.

Multiple choice maths money math different discounts successive discounts problems on discounts

Pepsi and Coke, there are two companies , selling the packs of cold-drinks. For the same selling price Pepsi gives two successive discounts of $10$ $\%$ and $25$ $\%$. While coke sells it by giving two successive discounts of $15$ $\%$ and $20$ $\%$. What is the ratio of their marked price?

  1. $143 : 144$
  2. $19 : 11$
  3. $136 : 135$
  4. $73 : 77$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let the selling price of the cold drink is Rs. $100$

Pepsi gives two successive discount $10\%$ and $25\%$ 
Then selling price after first discount: 
S.P $=100-100\times \dfrac{10}{100}$
S.P $=100-10=$ Rs. $90$
Selling price after second discount:
S.P $=90-90\times \dfrac{25}{100}$
S.P $=90-22.5=$ Rs. $67.5$
Coke gives two successive discount $15\%$ and $20\%$.
Then selling price after first discount
S.P $=100-100\times \dfrac{15}{100}$
S.P $=100-15=$ Rs. $85$
Selling price after second discount:
S.P $=85-85\times \dfrac{20}{100}$
$S.P=85-17=$Rs. $68$
Ratio of the S.P$=68:67.5$
$=680:675$
$=136:135$

Multiple choice maths money math different discounts successive discounts problems on discounts

The marked price of a t-shrit is Rs. $2000$. A shopkeeper offers $20\%$ discount on this t-shirt and then again offers $40\%$ discount on the new price. How much will you have to pay, finally?

  1. $560$
  2. $660$
  3. $860$
  4. $960$
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Total discount of $20\%$ and $40\% =$ $20+40-\dfrac{800}{100}=52$ $\%$
Discount $= 52\%$ of marked price
$=\dfrac{52}{100}\times 2000=1040$
Selling price $=$ marked price $-$ discount
$= 2000 - 1040 =$ Rs. $960$

Multiple choice maths money math different discounts successive discounts problems on discounts

A trader marks his goods at $30\%$ above the cost price and allows a discount of $10\%$. What is his selling price?

  1. $117$
  2. $120$
  3. $99$
  4. $59.45$
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Let the cost price be Rs. $100$

Then, marked price $=$ Rs. $130$
Discount $=10\%$ of the marked price
$=10\%$ of $130$
$=\dfrac {1013}{100}\times 130$
$=13$
Selling price $=$ Marked price $-$ Discount
$=130-13$
$=117$
Therefore, the selling price for his goods is Rs. $117$.

Multiple choice maths money math different discounts successive discounts problems on discounts

The marked price of a ceiling fan is Rs. $1250$ and the shopkeeper allows a discount of $6\%$ on it. Find the selling price of the fan.

  1. $1175$
  2. $2260$
  3. $1150$
  4. $1460$
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Given, marked price $=$ Rs. $1250$ and discount $=6\%$

Discount $=6\%$ of marked price
$=6\%$ of $1250$
$=\dfrac {6}{100}\times 1250$
$=75$
Selling price $=$ Marked price $-$ Discount
$=1250-75$
$=1175$
Hence, the selling price of the fan is Rs. $1175$.

Multiple choice maths money math different discounts successive discounts problems on discounts

If the difference between a discount of 25% and two successive discounts of 15% and 10% is ' 63, then the marked price of the article is

  1. Rs. $4200$
  2. Rs. $6400$
  3. Rs. $2100$
  4. Rs. $3200$
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Let the marked price be $M$


After $25\%$  discount price will be $0.75M$

And the price after 2 successive discounts of $15\%$ and $10\%=0.85M\times 0.9=0.765M$.

Difference $\Rightarrow 0.765 M-0.75M=0.015M=63\implies M=4200$

Multiple choice commercial studies basic accounting terms basic accounting terminologies introduction to financial accounting and financial accounts basic accounting terminology objectives, functions, and importance of accounting stages and functions of accounting qualitative characteristics, objectives and roles of accounting

A saree manufacturer marks 20% higher price on his sarees. He allows 10% discount to the coustomer and earns a profit of Rs. 56 The cost of the saree is _____________.

  1. Rs. 700

  2. Rs. 600

  3. Rs. 800

  4. Rs. 1, 000
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Let cost be C. Marked price = 1.2C. Selling price = 0.9 * 1.2C = 1.08C. Profit = 1.08C - C = 0.08C = 56. C = 56 / 0.08 = 700.

Multiple choice maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

An article is marked at Rs. 4,500 and the rate of sales-tax on it is 6%. A trader buys this article at some discount and sells it to a customer at the marked price. If the trader pays Rs. 81 as VAT, find:
(i) how much per cent discount does the trader get ?
(ii) the total money paid by the trader, including tax, to buy the article.

  1. $ 30\% ; Rs. 3,339$
  2. $ 10\% ; Rs. 2,339$
  3. $ 15\% ; Rs. 4,339$

  4. None o these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation
Marked price of the article $=Rs.4500$
Rate of sales tax $=6\%$
VAT paid by the trader $=Rs.81$
C.P for the customer=Rs.4500
Sales tax paid=$4500\times \dfrac{6}{100}=Rs.270$
So sales tax paid by the trader$=270-81=Rs.189$
C.P for the trader$=\dfrac{4500\times 189}{270}=Rs.3150$
(1)
Amount of discount=$4500-3150=Rs.1350$
Rate of discount$=\dfrac{1350\times 100}{4500}=30$%
(2)
Total amount paid by the trader$=3150+6\%  of   3150$
$\Rightarrow 3150+\dfrac{6}{100}\times 3150$
$\Rightarrow 3150+189=Rs.3339$



Multiple choice maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

A shopkeeper marks his goods 40% above the cost price and then allows discount of 20%. Find how much will a customer pay for an article which costs the shopkeeper Rs. 200 and a Sales Tax of 10% is levied on the sale price of the article. (Give your answer correct to the nearest rupee).

  1. Rs. 246

  2. Rs. 297

  3. Rs. 323

  4. Rs. 356
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation
Cost Price =Rs.200
Shopkeeper Mark the price 40% above the cost price then
$M.P=200+40\%  of  200$
$\Rightarrow 200+\dfrac{40}{100}\times 200$
$\Rightarrow 200+80=Rs.280$
Discount=20%
Then Price after discount$=280-20\% of 280$
$\Rightarrow 280-\dfrac{20}{100}\times 280$
$\Rightarrow 280-56=Rs.224$
Sales tax rate=10%
Then sales price$=224+10\% of 224$
$\Rightarrow 224+\dfrac{10}{100}\times 224$
$\Rightarrow 224+22.4=246.4\sim Rs.246$


Multiple choice maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

A shopkeeper announces a discount of 15% on his goods. If the marked price of an article, in his shop, is Rs. 6,000; how much a customer has to pay for it, if the rate of Sales Tax is 10% ?

  1. Rs. 5320

  2. Rs. 5610

  3. Rs. 5930

  4. Rs. 6120
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Discounted price = 6000 - (15% of 6000) = 6000 - 900 = 5100. Sales tax = 10% of 5100 = 510. Total amount = 5100 + 510 = 5610.

Multiple choice commercial studies company final accounts forms of statements of profit and loss operating profit (ebit) meaning, need and format of profit and loss account

There was a stock of Rs. $5,500$ out of which stock of Rs. $500$ was burnt due to fire and was disposed off for Rs. $200$. Remaining goods were sold at $25\%$ above cost price. Find net profit.

  1. Rs. $6,250$
  2. Rs. $7,200$
  3. Rs. $6,575$
  4. Rs. $5,950$
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Stock available = Rs.5500
Burnt due to fire = Rs.500
Goods available for sale= Rs.5000
25% of Rs. 5000= Rs.1250
Selling price= Rs.6250(5000+1250)
less: loss due to fire=Rs. 300
Net Profit=Rs.5950

Multiple choice maths equation reducing simple equations to simpler form solving linear equations solution of a linear equation in one variable

The manufacturer of a certain item can sell all he can produce at the selling price of $Rs. 60$ each. It costs him $Rs. 40$ in materials and labour to produce each item and he has overhead expenses of $Rs. 3000$ per week in order to operate the plant. The number of units he should produce and sell in order to make a profit of at least $Rs\,1000$ per week, is : 

  1. $200$
  2. $250$
  3. $300$
  4. $400$
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Let the no of units sold be $x$ per week.

$60x$ = sales should include all the expenses and profit required to balance things out.
$60x = 1000+40x+3000$

$20x = 4000$
$x =200$