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 wholesaler sells an article for Rs. $2,700$ at a discount of $10\%$ on the printed price to a retailer. The retailer, in turn, raises the printed price of the article by $15\%$ and sells it for Rs. $3,657$ which includes Sales Tax on the new marked price. Find: (i) the rate of Sales Tax, (ii) the profit, as per cent, made by the retailer.
  1. (i) $6\%$        (ii) $27.78\%$
  2. (i) $5\%$        (ii) $7.78\%$
  3. (i) $7\%$        (ii) $27.78\%$

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

Retailer buys at 2700. Printed price = 2700 / 0.9 = 3000. New marked price = 3000 * 1.15 = 3450. Sales tax = 3657 - 3450 = 207. Tax rate = 207 / 3450 = 6%. Profit = 3450 - 2700 = 750. Profit % = (750 / 2700) * 100 = 27.78%.

Multiple choice

In a certain store, the profit is $320$% of the cost. If the cost increases by $25$% but the selling price remains constant, approximately what percentage of the selling price is the profit?
  1. $30$%
  2. $70$%
  3. $100$%
  4. $250$%
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let Cost = 100. Profit = 320% of 100 = 320. Selling Price = 100 + 320 = 420. New Cost = 125. Selling Price remains 420. New Profit = 420 - 125 = 295. Profit as % of Selling Price = (295 / 420) * 100 = 70.23%, which is approximately 70%.