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Profit Loss and Discount Practice Quiz

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Profit Loss and Discount Practice Quiz

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The article Profit Loss and Discount Practice Quiz provides information about Profit Loss and Discount, a important topic of Quantitative Aptitude section. Consists of different types Profit Loss and Discount questions with solutions useful for candidates preparing for different competitive examinations like RRB ALP/Technical Exams/Junior Engineer Recruitment Exams, SSC, IBPS PO Exams and etc.

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1. I f C.P. of 21 oranges is equal to the S.P. of 18 oranges, then profit percent is

    A. 7 \(\frac {1} {7}\)%
    B. 5 \(\frac {5} {9}\)%
    C. 16 \(\frac {2} {3}\)%
    D. 7 \(\frac {1} {3}\)%


Answer – Option C

Explanation –

\(\frac {SP – CP} {SP} * 100%\) = \(\frac {3} {18} * 100\) = 16 \(\frac {2} {3}\)%

2. A man sold two horses for Rs. 3000 each gaining 25% on the one and losing 25% on the other. His loss percent is

    A. 7 \(\frac {1} {3}\)%
    B. 6 \(\frac {1} {4}\)%
    C. 7 \(\frac {1} {3}\)%
    D. 5 \(\frac {5} {9}\)%


Answer – Option B

Explanation –

2.5 * 2.5 = 6 \(\frac {1} {4}\)%

3. A man purchases some oranges @ Re. 1 for 6 and an equal number @ Re. 1 for 4. He mixed them and sold @ 20 paise each. His gain or loss in percent is

    A. loss 5%
    B. loss 4%
    C. profit 5%
    D. profit 4%


Answer – Option B

Explanation –

CP for 12 eggs = 2 ; SP (24 eggs) = 4.80

Now, \(\frac {CP (for 12 eggs)} {CP (for 24 eggs)}\) = \(\frac {3} {5}\)

i.e, % Loss = \(\frac {20} {5} * 100%\) = 4%

4. Rajan buys lemons at the rate of 9 for 80p and sells them at 11 for 120p. His gain per lemon is

    A. \(\frac {200} {99}\)
    B. \(\frac {11} {99}\)
    C. \(\frac {120} {99}\)
    D. \(\frac {11} {9}\)


Answer – Option A

Explanation –

CP = \(\frac {80} {9}\); SP = \(\frac {120} {11}\)

i.e, Gain per lemon = \(\frac {120} {11} – \frac {80} {9} = \frac {200} {99}\)


5. By selling an article at Rs. 1250, a gain of 25% is made on the CP. At what price should the article be sold in order that a loss of 20% is made on the selling price ?

    A. Rs. 800
    B. Rs. 850
    C. Rs. 833 \(\frac {1} {3}\)
    D. Rs. 833 \(\frac {2} {3}\)


Answer – Option C

Explanation –

\(\frac {120} {100} = \frac {1250} {CP}\)

CP = 1000

Now, 120% of SP = 1000,

SP = 833 \(\frac {1} {3}\)


6. Rajan sold his watch for Rs. 75 and got a percentage of profit equal to the cost price. The cost price of the watch is

    A. Rs. 40
    B. Rs. 60
    C. Rs. 50
    D. Rs. 52.50


Answer – Option C


7. By selling 15 mangoes, a fruit seller gains the selling price of 3 mangoes. His gain is

    A. 25%
    B. 16%
    C. 24%
    D. 27%


Answer – Option A

Explanation –

\(\frac {3} {12} * 100%\) = 25%


8. Ram sold a cow to Rahim at 20% profit . Rahim sold it to Robert at 25% profit. If Robert paid Rs. 900, then Ram had purchased the cow (in rupees) for

    A. 600
    B. 700
    C. 750
    D. 800


Answer – Option A

Explanation –

Let Ram’s cost price = Rs. 100

i.e, Ram’s selling price

= \( Rs.100 * \frac {100 + 20} {20}\)

= Rs. 120

Rahim’s cost price = Rs. 120

i.e, Rahim’s selling price

= \( Rs.120 * \frac {100 * 25} {100}\)

= Rs.150

Robert’s cost price = Rs. 150

If Robert’s cost price is Rs. 150, then Ram’s cost price = Rs. 100

Hence if Robert’s cost price is Rs. 900, then Ram’s cost price

= \( Rs.900 * \frac {100 } {150}\) = Rs. 600

9. By selling a towel for Rs. 126.90, a draper loses 6% For low much should he sell the towel to gain 4% ?

    A. Rs. 130
    B. Rs. 140.40
    C. Rs. 145.05
    D. Rs. 160


Answer – Option B

Explanation –

= \( Rs.126.90 * \frac {100} {94}\) = Rs. 135

Hence to gain 4%,

new SP = \( \frac {135 * 104} {100}\) = Rs. 140.40

10. By selling an article for Rs. 3640, a man loses 9%. His gain or loss percent if he sells it for Rs. 4200, is

    A. No loss no again
    B. loss 5%
    C. gain 5%
    D. gain 7.5%


Answer – Option C

Explanation –

\( \frac {91} {?} = \frac {3640} {4200}\) = Rs. 34 per kg

? = 105%

i.e. Gain = 5%

11. Rajan buys mangoes at the rate of 3 kg for Rs. 21 and sells them at 5 kg. for Rs. 50. To earn Rs. 102 as profit, he must sell

    A. 34 kg
    B. 52 kg
    C. 26 kg
    D. 32 kg


Answer – Option a

Explanation –

P = 10 – 7 = 3

i.e, SP = \( \frac {102} {3}\) = Rs. 34 per kg

12. Rajan purchased a refrigerator with a marked price of Rs. 6000 in a sale where 25% discount was being offered on the marked price. He was given a further discount of 10% on the amount arrived at after giving 25% discount. What was the final amount paid by the Rajan ?

    A. Rs. 3900
    B. Rs. 4050
    C. Rs. 5400
    D. Rs. 5650


Answer – Option B

Explanation –

Rs.6000 \(\frac {(-) 25%} {(-) 1500}\)= Rs. 4500

\(\frac {(-) 10%} {(-) 450}\)= Rs. 4500

13. Profit earned by selling an article for Rs. 1,060 is 20% more than the loss incurred by selling the article for Rs. 950. At what price should the article be sold to earn 20% profit ?

    A. Rs. 1,800
    B. Rs. 1,080
    C. Rs. 1,000
    D. Rs. 1,200


Answer – Option C

Explanation –

Let CP = K

i.e, \( 1960 – k = \frac {120} {100}(k – 950)\)= Rs. 1000

14. Even after reducing the marked price of a T.V. by Rs. 320, a shopkeeper makes a profit of 15%. If the cost price be Rs. 3200, what percentage of profit would he have made if he had sold the T.V. at the marked price ?

    A. 10%
    B. 20%
    C. 25%
    D. 16 \(\frac {2} {3}\)%


Answer – Option B

Explanation –

15% of 3200 = 480

M.P. = 3200 + 480 + 320 = 4000

P = 4000 – 3200 = 800

i.e, P% = \(\frac {800} {4000}\) * 100% = 20%

15. A merchant blends two varieties of tea from two different tea gardens, one costing Rs. 45 per kg and other Rs. 60 per kg in the ratio of 7 : 3 respectively. H e sells t he blended variety at Rs. 54.45 per kg. His profit percent is

    A. 5%
    B. 10%
    C. 9 \(\frac {1} {11}%\)
    D. 11 \(\frac {1} {9}%\)


Answer – Option B

Explanation –

7 * 45 = 315

3 * 60 = 180

CP of 10 kg = 495

i.e, CP of 10 kg = 49.5

Profit = 54.54 – 49.5

= Rs. 4.95

i.e, % profit = \(\frac {4.95} {49.5} * 100%\) = 10%

1. A man sells his two cars at the same price. In one car he makes a profit of 10%. I n other car he loses 10% over the cost price. His total gain or loss percent is

    A. 1% loss
    B. 1% gain
    C. 2% loss
    D. No loss no gain


Answer – Option A

Explanation –

If the selling price and profit +/ loss percent is same then there is always a loss of

\((\frac {10 * 10} {100}) %\) i.e, 1%

2. A man buys an article for Rs. 490 and sells it for Rs. 465.50. Find his loss percentage

    A. 4%
    B. 4.5%
    C. 5%
    D. 5.5%


Answer – Option C

Explanation –

Loss% = \(\frac {490 – 465.5} {490} * 100\) = 5%

3. A dealer professing to sell his goods at cost price, uses 900 gm weight for 1 Kg. His gain percent is

    A. 9%
    B. 10%
    C. 11%
    D. 11 \(\frac {1} {9}\)%


Answer – Option D

Explanation –

Required percent = \(\frac {100} {900} * 100\) = 11\(\frac {1} {9}\)%

4. The setting price of a table is \(\frac {4} {3}\) times its cost price. The gam percent is

    A. 20 \(\frac {1} {3}\)%
    B. 20 \(\frac {1} {2}\)%
    C. 25 \(\frac {1} {4}\)%
    D. 33 \(\frac {1} {3}\)%


Answer – Option D

Explanation –

SP = \(\frac {4} {3}\) * CP

Required profit = \(\frac {4 – 3} {3} * 100\) = 33\(\frac {1} {3}\)%

5. X, Y, Z started a business by investing Rs. 27000, Rs. 81000 and Rs. 72000 respectively. At the end on one year. Y’s share of total profit was Rs. 36000. What was the total profit ?

    A. Rs.108000
    B. Rs.116000
    C. 80000
    D. 92000


Answer – Option C

Explanation –

Y’s share = Rs. 36000 which is = \(\frac {4} {9} * 81000\)

Hence, total profit

\(\frac {4} {9} (27000 ÷ 81000 ÷ 72000)\)

= Rs. 80,000

6. Successive discounts of 20% and 10% are equivalent to a single discount of

    A. 25%
    B. 26%
    C. 28%
    D. 30%


Answer – Option C

Explanation –

Successive discounts of 20% and 10% will be equal to a single discount of:

– 20 – 10 + (– 20 × – 10)/100 = – 28 or 28%

7. If CP of 10 articles is equal to SP of 8 articles, then in the whole transaction there is a

    A. Profit of 20%
    B. Loss of 20%
    C. Loss of 25%
    D. Profit of 25%


Answer – Option D

Explanation –

Given that: 10 × CP = 8 × SP

SP : CP = 5 : 4 = 1.25

Hence, there would be a profit of 25% in the entire transaction

8. To gain 25% after allowing a discount of 10%, the shopkeeper should mark the price of the article which cost him `360 as

    A. 450
    B. 460
    C. 486
    D. 500


Answer – Option D

Explanation –

Given that: MP × 0.9 = 360 × 1.25

Hence, MP or marked price will be Rs. 500.

9. A shopkeeper mixes 26 kg of tea which costs him 800 per kg with 30 kg of tea which costs him 1440 per kg. He sells the mixed tea at 1200 per kg. His gain is

    A. 5%
    B. 8%
    C. 9%
    D. 10%


Answer – Option A

Explanation –

Per kg cost price of the tea after mixing the

two varieties = \(\frac {26 * 800 * 30 *1440} {26 + 30}\)

\(\frac {8000} {7}\)

and selling price is given as Rs. 1200

Hence, required profit percent

\(1200 – \frac{\frac {8000} {7}}{\frac{8000}{7}} * 100\) = 5%

10. Successive discounts of 30% and 10% are equivalent to a single discount of

    A. 20%
    B. 35%
    C. 36%
    D. 37%


Answer – Option D

Explanation –

\(x * \frac {7} {10} * \frac {9} {10} = \frac {63} {100} * x\)

Hence, there would be a net discount of 37%

11. If C.P. of 12 articles is equal to S.P. of 10 articles, then in the whole transaction there is a profit of

    A. \(\frac {50} {3}\)%
    B. \(\frac {25} {3}\)%
    C. 25%
    D. 20%


Answer – Option D

Explanation –

given; CP × 12 × = SP × 10

\(\frac {SP} {CP}\) = \(\frac {6} {5}\)

SP = 1.2 CP

Hence, there will be a profit of 20%

12. To gain 25% after allowing a discount of 20%, the shopkeeper should mark the price of the article which cost him 400 as

    A. 525
    B. 580
    C. 625
    D. 650


Answer – Option C

Explanation –

\( MP * \frac {4} {5} = \frac {5} {4} * 100 \)

MP * \( \frac {25} {16} * 400\)

MP = Rs. 625

13. A shopkeeper mixes 40 kg of sugar which costs him 36 per kg with 27 kg of sugar which costs him 30 per kg. He sells the mixture at 35 per kg. His gain percent is

    A. \(\frac {38} {9}\)%
    B. \(\frac {400} {49}\)%
    C. \(\frac {100} {9}\)%
    D. 10%


Answer – Option A

Explanation –

CP of (per kg) sugar after mixing

\(\frac {40 * 36 * 27 * 30} {40 + 27}\) = Rs. \(\frac {n} {4}\)

Hence, gain percent

\(\frac {35 – \frac {2250}{67}} {\frac {2250}{67}} * 100\)

\(\frac {67 * 35 – 2250}{2250} * 100\) = \(\frac {95}{225} * 10\) = \(\frac {38}{9}\)

14. Successive discounts of 40% and 20% are equivalent to a single discount of

    A. 60%
    B. 55%
    C. 54%
    D. 52%


Answer – Option D

Explanation –

Let initial value = 100

After 1st discount of 40%, value = 60

\( {Discount}_{1}\) = 40

After 2nd discount of 20%, value \(60 \frac {4}{5}\) = 48

\( {Discount}_{2}\) = 12

i.e, Single discount = (40 + 12) = 52%

15. If CP of 25 articles is equal to SP of 20 articles, then in the whole transaction there is a profit of

    A. 10%
    B. 20%
    C. 25%
    D. 30%


Answer – Option C

Explanation –

Let CP of 1 article = x

i.e, CP of 25 articles = 25 x

3P of 25 articles = \(\frac {25x} {20} * 25\)

\(\frac {SP – CP} {CP} * 100\) = 25%

\(\frac {\frac{625x}{20} – 25x} {25x} * 100\) = 25%

1. A, B & C invest Rs. 26000, Rs. 34000 and Rs. 10000 respectively in a business. They earn a profit of 3500. B’s share in the profit is:

    A. Rs. 1200
    B. Rs. 1500
    C. Rs. 1700
    D. Rs. 1900


Answer – Option C

Explanation –

The ratio is which profit distributed will be ratio of their investments.

i.e, B’ share

\(3500 (\frac {34000} {26000 + 34000 + 10000})\) = 1700

2. A shop reduced the price of an article by 25%. Its sale for that article increased by 25%. What is the net effect on sales in rupees?

    A. No change
    B. Increase by 5.75%
    C. Decrease by 5.75%
    D. Decrease by 6.25%


Answer – Option D

Explanation –

Let initial price be Rs. 100

New price = \(\frac {3} {4} * 100\) = Rs. 75

Let initial sales = 100 units

New sales \(\frac {5} {4} * 100\) = 125

3. A merchant is mixing two qualities of rice, one which first procures at Rs. 70/kg and second at
Rs. 40/kg in the ratio of 7 : 3 respectively. At what price should he sell the mixture to earn a profit of 20 %?


    A. Rs. 73.20/kg
    B. Rs. 74/kg
    C. Rs. 74.6/kg
    D. Rs. 75.4/kg


Answer – Option A

Explanation –

x = \(\frac {70 * 7 + 40 * 3} {10}\)

x = Rs.610

with a profit of 20%

New x = 610 + \(\frac {20} {100}\) * 610 = Rs.73.20/kg

4. A shopkeeper purchased 100 oranges for Rs. 330 and then sold these oranges at the rate of Rs. 48 per dozen. What is his percentage profit ?

    A. 12 \(\frac {1} {2}\)%
    B. 14 \(\frac {2} {7}\)%
    C. 10 \(\frac {1} {2}\)%
    D. 15%


Answer – Option B

Explanation –

C.P of one orange = \(\frac {50} {100}\) = Rs.3.5

S.P one orange = \(\frac {48} {12}\) = 4

i.e, Profit % = \(\frac {0.5} {3.5} * 100\) = 14 = \(\frac {2} {7}%\)

= \(\frac {Profit} {CP} * 100\)

5. If a frame is sold at Rs. 60. there is a loss of 15%. For a profit of 2%, the frame is to be sold at

    A. Rs. 70
    B. Rs. 72
    C. Rs. 75
    D. Rs. 85


Answer – Option B

Explanation –

According to the question

CP = \(\frac {60} {0.85}\)

i.e, for a profit of 2%

SP = 1.02\(\frac {60} {0.85} \) = 72

6. On selling 100 pens, a shopkeeper gains price of 20 pens. His gain percent is

    A. 25%
    B. 20%
    C. 15%
    D. 12%


Answer – Option B

Explanation –

According to the question

Profit = 20 C.P; C.P  cost price

100 SP – 100 P = 20 CP

100 SP = 120 CP

SP = 1.2 CP

Profit % = \(\frac {1.2 CP – CP} {CP} * 100\) = 20%

7. A man bought an article for Rs. 240 and sold it at a loss of x% .Had he purchased it at 10% lesser cost price and sold it or Rs.42 more, then he would have had a gain of \(\frac {1} {4}\) of the new cost price. The value of x is

    A. 4
    B. 5
    C. 6
    D. 8


Answer – Option B

Explanation –

S.P initial = 240\(\frac{1 – x}{100}\)

New C.P = 0.9 (240) = 216

New S.P = 240\(\frac{1 – x}{100} + 42\)

= 240\(1 – \frac{x}{100} + 42\) = 1.25(216)

x = 5

8. Surbhi makes a profit of 25% by selling a pen at a certain price. If she charges Rs 1 more on each pen, she would gain 40 % .The original cost price of one dozen pen is(in Rs.)

    A. 60
    B. 72
    C. 80
    D. 84


Answer – Option C

Explanation –

old C.P = x

old S.P = 1.25 x

New S.P = (1.25 x + 1)

According to the question

1.25 x + 1 = 1.4 (x)

x = \(1 – \frac{1}{0.15}\)

9. The selling price of a certain commodity was reduced by 20%. As a result of it, the sale was increased by 30%. What was the total effect of it on cash collected by daily sale?

    A. 4% increase
    B. 4% decrease
    C. 2.5% decrease
    D. 2% increase


Answer – Option A

Explanation –

Initial cash collected = SP × Quality Sold = x × y

Final cash collected = 0.8x × 1.3y = 1.04 xy

i.e, 4% Increase

10. . Marked price of a washing machine is Rs.7200. If it is sold at a discount of 16 \(\frac {2} {3}\)% of the marked price, the gain is 25%. If it is sold for Rs.1600 below marked price, then there is a

    A. Loss of 16 \(\frac {2} {3}\)%
    B. Gain of 14 \(\frac {2} {7}\)%
    C. Loss of 14 \(\frac {2} {7}\)%
    D. Gain of 16 \(\frac {2} {3}\)%


Answer – Option D

Explanation –

According to the question

S.P = 7200\(\frac{50}{3 * 100} * 7200\) = 6000

i.e, gain = 25 %

i.e, C P = \(\frac {4} {5} * 6000\) = 4800

if SP = 7200 – 1600 i.e 5600

i.e, gain% = \(\frac {5600 – 4800} {4800} * 100\)

i.e, gain% = \(\frac {SP- CP} {CP} * 100\) = 16 \(\frac {2} {3}%\)

11. Hamid sold a chair at a profit of 6.5%. If he had sold it for Rs.687.5 more, he would have gained x%. If the cost price of the chair is Rs.12500 then the value of x is

    A. 10
    B. 12
    C. 14
    D. 16


Answer – Option B

Explanation –

SP = 6.5 % of 12500

x% = \(\frac {\frac {6.5}{100} * 12500 + 687.5} {12500} * 6000\)

x = 6.5 + \(\frac {6875}{125} \) = 12

12. A trader bought 864 articles and sold 800 of them for the price he paid for 864 article . He sold the remaining articles at the same price per article as the other 800. The percentage gain on entire transaction is

    A. 7 \(\frac {1} {2}\)%
    B. 8%
    C. 8 \(\frac {1} {2}\)%
    D. 9%


Answer – Option B

Explanation –

Let price of 1 article = Rs. x

i.e, C.P = 864,

Total SP = \(\frac {864} {600} * 864x\)%

i.e, gain = \(\frac {\frac{(864 * 864)}{800} x – 864x} {864x}\) * 100 = 8%

13. Ankit purchased an article for Rs.600 and sold it at the gain of 30% . From that amount , he purchased another article and sold it at a loss of 30% . In the entire transaction he has a

    A. Loss of 9%
    B. Gain of 9%
    C. Loss of 6.9%
    D. Gain of 6.9%


Answer – Option A

Explanation –

At the end of transaction, he lead

[(1.3)* 600] * 0.7 = 546

loss = 600 – 546 = 54

i.e, loss% = \(\frac {54} {600} * 100\) = 9%

14. A shopkeeper marks his goods at such a price that after allowing a discount of 15% on the marked price, he still earns a profit of 15 %. The marked price of an article which costs him Rs. 8500 is

    A. Rs. 11000
    B. Rs. 11500
    C. Rs. 12000
    D. Rs. 12500


Answer – Option B

Explanation –

M. P = x

i.e, S.P = 0.85x

i.e, \(\frac {0.85 – 8500} {8500} * 100\) = 15

x = 11500

15. A person bought an article at \(\frac {4} {5}\) of its selling price and sold at 10% more than its original selling price. His gain percent is

    A. 20
    B. 10
    C. 18.75
    D. 37.5


Answer – Option D

Explanation –

Let original SP = x

CP = 0.8x

\({S P}_{new}\) = 1.1x

gain% = \(\frac {1.1x – 0.8x} {0.8x}* 100%\) = 37.5%