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 shopkeeper sold an article for Rs.6750 after giving a discount of 10% on the labelled price. He would have earned a profit of 50% had there been no discount. What was the actual percentage of profit earned?
  1. $36\%$
  2. $40\%$
  3. $44\%$
  4. $35\%$
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Let the marked price be M. The selling price is 0.9M = 6750, so M = 7500. If there were no discount, the selling price would be 7500, which represents a 50 percent profit over the cost price (CP). Thus, 1.5 * CP = 7500, meaning CP = 5000. The actual profit is 6750 - 5000 = 1750. The profit percentage is (1750 / 5000) * 100 = 35 percent.

Multiple choice

A mirror is listed at Rs. 1,000. A retailer buys it with two discounts of 20% and 10% each. The retailer incurs an additional cost of 10% of the cost of mirror on wood work for making a dressing table. At what price should he sell the dressing table to make profit of 15%?

  1. Rs. 900

  2. Rs. 910.8

  3. Rs. 800

  4. Rs. 840
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The cost price after two discounts is 1000 * 0.8 * 0.9 = 720. Adding 10% for wood work (72) makes the total cost 792. To get a 15% profit, the selling price must be 792 * 1.15 = 910.8.

Multiple choice

When a producer allows 36% discount on the retail price of his product, he earns a profit of 8.8%. What would be his profit percent if the discount is reduced by 24%?
  1. $45.5\%$
  2. $45.8\%$
  3. $46.4\%$
  4. $49.6\%$
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Let MP = 100. Discount = 36%, SP = 64. Profit = 8.8%, so CP = 64 / 1.088 = 58.82. If discount is reduced by 24%, new discount = 36 - 24 = 12%. New SP = 88. Profit = 88 - 58.82 = 29.18. Profit% = (29.18 / 58.82) * 100 = 49.6%.

Multiple choice

A shopkeeper allows a discount of 10% on the marked price of an item but charges a sales tax of 8% on the discounted price. If the customer pays Rs. 680.40 as the price including the sales tax, then what is the marked price of the item ?

  1. Rs 630

  2. Rs 700

  3. Rs 780

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

Let marked price be M. Discounted price = 0.9M. Price with tax = 0.9M * 1.08 = 0.972M. Given 0.972M = 680.40, M = 680.40 / 0.972 = 700.