Profit Loss and Discounts Practice Questions, Answers

Profit, Loss, Discounts, SP, CP, Percent profit questions that appear in PGSEM, XAT, CAT, TANCET

A collection of questions that typically appear from the topics of profit loss and discounts in Indian Business Schools entrance tests. A basic topic. Easy to master.

1. Question 1 »  If a merchant offers a discount of 40% on the marked price of his goods and thus ends up selling at cost price, what was the % mark up? Explanatory Answer »
   
   
2. Question 2 »  If a merchant offers a discount of 30% on the list price, then she makes a loss of 16%. What % profit or % loss will she make if she sells at a discount of 10% of the list price? Explanatory Answer »
   
   
3. Question 3 »  A merchant marks his goods up by 60% and then offers a discount on the marked price. If the final selling price after the discount results in the merchant making no profit or loss, what was the percentage discount offered by the merchant? Explanatory Answer »
   
   
4. Question 4 »  A merchant marks his goods up by 75% above his cost price. What is the maximum % discount that he can offer so that he ends up selling at no profit or loss? Explanatory Answer »
   
   
5. Question 5 »  A merchant marks his goods in such a way that the profit on sale of 50 articles is equal to the selling price of 25 articles. What is his profit margin? Explanatory Answer »
   
   
6. Question 6 »  Two merchants sell, each an article for Rs.1000. If Merchant A computes his profit on cost price, while Merchant B computes his profit on selling price, they end up making profits of 25% respectively. By how much is the profit made by Merchant B greater than that of Merchant A? Explanatory Answer »
   
   
7. Question 7 »  One year payment to the servant is Rs. 200 plus one shirt. The servant leaves after 9 months and recieves Rs. 120 and a shirt. Then find the price of the shirt. Explanatory Answer »
   
   
8. Question 8 »  If apples are bought at the rate of 30 for a rupee. How many apples must be sold for a rupee so as to gain 20%? Explanatory Answer »
   
   
9. Question 9 »  A trader buys goods at a 19% discount on the label price. If he wants to make a profit of 20% after allowing a discount of 10%, by what % should his marked price be greater than the original label price? Explanatory Answer »
   
   
10. Question 10 »  Rajiv sold an article for Rs.56 which cost him Rs.x. If he had gained x% on his outlay, what was his cost? Explanatory Answer »
    
    
11. Question 11 »  A trader professes to sell his goods at a loss of 8% but weights 900 grams in place of a kg weight. Find his real loss or gain per cent. Explanatory Answer »
    
    
12. Question 12 »  A merchant buys two articles for Rs.600. He sells one of them at a profit of 22% and the other at a loss of 8% and makes no profit or loss in the end. What is the selling price of the article that he sold at a loss? Explanatory Answer »
    
    
13. Question 13 »  A trader makes a profit equal to the selling price of 75 articles when he sold 100 of the articles. What % profit did he make in the transaction? Explanatory Answer »
    
    
14. Question 14 »  If a merchant makes a profit of 20% after giving a 20% discount, what should be his mark-up? Explanatory Answer »