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Profit, Loss & Discounts Practice

A collection of questions that typically appear from the topic profit, loss and discounts in Indian Business Schools entrance tests such as TANCET and CAT. A basic topic; easy to master.

  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?

    1. 28.57%
    2. 40%
    3. 66.66%
    4. 58.33%

    Concept: Discounts and Marked Price

  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?

    1. 6% loss
    2. 0.8% profit
    3. 6.25% loss
    4. 8% profit

    Concept: Discounts and Profit Percent

  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?

    1. 60%
    2. 40%
    3. 37.5%
    4. Depends on the cost price

    Concept: Percentage Discount and Profit Percent

  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?

    1. 75%
    2. 46.67%
    3. 300%
    4. 42.85%

    Concept: Discounts and cost price

  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?

    1. 25%
    2. 50%
    3. 100%
    4. 66.67%

    Concept: Profit and selling price

  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?

    1. Rs.66.67
    2. Rs.50
    3. Rs.125
    4. Rs.200

    Concept: Profit as a percent of cost price Vs selling price

  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. What is the price of the shirt?

  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%?

  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?

    1. +8%
    2. -3.8%
    3. +33.33%
    4. None of these

    Concept: Profit percent and percentage discount

  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?

    1. Rs.40
    2. Rs.45
    3. Rs.36
    4. Rs.28

    Concept: Profit percent, cost price and algebraic equations

  11. A trader professes to sell his goods at a loss of 8% but uses a weight of 900 grams in place of a 1 kg weight. What is his real loss or gain per cent?

    1. 2% loss
    2. 2.22% gain
    3. 2% gain
    4. None of these

    Concept: Incorrect weight and measures

  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?

  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?

    1. 33.33%
    2. 75%
    3. 300%
    4. 150%

    Concept: Profit expressed in terms of selling price

  14. If a merchant makes a profit of 20% after giving a 20% discount, what should be his mark-up?

  15. The Maximum Retail Price (MRP) of a product is 55% above its manufacturing cost. The product is sold through a retailer, who earns 23% profit on his purchase price. What is the profit percentage (expressed in nearest integer) for the manufacturer who sells his product to the retailer? The retailer gives 10% discount on MRP.

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XAT TANCET Practice Questions - Listed Topic wise

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