Profit, loss and discount
Ten quantitative aptitude questions, each marked as you answer.
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A trader buys a bicycle for ₹600 and sells it for ₹510. What is the profit or loss percent?
Answer and working
Answer D
Loss = ₹90. As a percent of the cost price: 90 ÷ 600 × 100 = 15% loss.
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A trader buys a bicycle for ₹1,375 and sells it for ₹1,155. What is the profit or loss percent?
Answer and working
Answer A
Loss = ₹220. As a percent of the cost price: 220 ÷ 1,375 × 100 = 16% loss.
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A shopkeeper marks his goods 25% above the cost price and allows a discount of 25%. What is his profit or loss percent?
Answer and working
Answer C
Take CP = 100. Marked price = 125. After 25% off: 125 × 75/100 = 93.75. So 6.25% loss.
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A trader buys a bicycle for ₹1,950 and sells it for ₹2,184. What is the profit or loss percent?
Answer and working
Answer A
Profit = ₹234. As a percent of the cost price: 234 ÷ 1,950 × 100 = 12% profit.
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A shopkeeper marks an article 40% above its cost price and allows a discount of 10%. If the article was sold for ₹2,646, what was its cost price?
Answer and working
Answer B
SP = CP × 1.4 × 0.9 = CP × 1.26. So CP = 2,646 ÷ 1.26 = ₹2,100.
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A shopkeeper marks an article 50% above its cost price and allows a discount of 15%. If the article was sold for ₹2,805, what was its cost price?
Answer and working
Answer C
SP = CP × 1.5 × 0.85 = CP × 1.28. So CP = 2,805 ÷ 1.28 = ₹2,200.
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A shopkeeper marks his goods 25% above the cost price and allows a discount of 15%. What is his profit or loss percent?
Answer and working
Answer D
Take CP = 100. Marked price = 125. After 15% off: 125 × 85/100 = 106.25. So 6.25% profit.
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Two successive discounts of 20% and 10% are equal to a single discount of:
Answer and working
Answer A
Single discount = 20 + 10 − (20 × 10)/100 = 28%. The second discount is taken on the already reduced price, so the two do not simply add.
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A trader buys a bicycle for ₹1,575 and sells it for ₹1,827. What is the profit or loss percent?
Answer and working
Answer B
Profit = ₹252. As a percent of the cost price: 252 ÷ 1,575 × 100 = 16% profit.
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A shopkeeper marks an article 50% above its cost price and allows a discount of 10%. If the article was sold for ₹3,375, what was its cost price?
Answer and working
Answer D
SP = CP × 1.5 × 0.9 = CP × 1.35. So CP = 3,375 ÷ 1.35 = ₹2,500.
More quantitative aptitude: Percentages, Simple interest, Compound interest, Ratio and proportion, Averages, Problems on ages.