MCQ
Profit and Loss / Discount MCQ - Practice Questions with Answers
Solve 24 Profit and Loss / Discount questions for RAS/RPSC preparation.
Practice questions
Q1A dining set listed at ₹3600 is meant to be billed with successive discounts of 15% and 10%. A clerk instead knocks off a single 25%. By how many rupees does the correct successive bill exceed the clerk’s single-cut bill?
Correct successive selling price is 3600 × 0.85 × 0.90 = 2754. The clerk’s single 25% bill is 3600 × 0.75 = 2700. The successive bill exceeds the mistaken bill by 2754 − 2700 = 54.
Q2Two garden toolkits were each sold for ₹2,970. On one toolkit the seller gained 10% and on the other he lost 10%. The net outcome of both sales together is:
Cost of the gain toolkit = 2,970 × (100/110) = ₹2,700 and cost of the loss toolkit = 2,970 × (100/90) = ₹3,300. Combined CP = ₹6,000 while combined SP = ₹5,940, so the net result is a loss of ₹60. With equal selling prices and ±r% changes, there is always a loss of (r²/100)% of the total CP; here (10²/100)% of 6,000 = ₹60.
Q3A spare-parts dealer marks every unit 60% above cost and then allows successive discounts of 25% and 20% on the marked price. What is the resulting profit or loss percent?
Take cost price as 100, so marked price is 160. Selling price after successive discounts is 160 × 0.75 × 0.80 = 96. Relative to cost 100 this is a loss of 4.
Q4Catalogue price of a ceramic water filter is ₹3850. Festival billing applies 20% off, then a further 10% off the reduced amount. How much does the customer actually pay?
After the first cut the price is 3850 × 0.80 = 3080. The second cut then gives 3080 × 0.90 = 2772. Equivalently, SP = 3850 × 0.80 × 0.90 = 2772.
Q5Two wristwatches together cost ₹5600 and are equally priced. One leaves the shop at 15% profit and the other at 10% loss. What is the overall profit percent on the pair?
Each watch costs 2800. Selling prices are 2800 × 1.15 = 3220 and 2800 × 0.90 = 2520, totalling 5740. Net gain is 5740 − 5600 = 140, so overall profit percent is (140 / 5600) × 100 = 2.5%.
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More questions
6A leather briefcase costing ₹4,800 is tagged 50% above cost. The shopkeeper still wants a 20% profit after offering a single discount on the tag. What discount percent must he allow?
7Two hydraulic pumps were bought together for ₹5,250. One was sold at a 20% profit and the other at a 10% loss, yet both realised the same selling price. What was the cost price of the pump sold at a profit?
8A wall clock costing ₹900 is tagged 20% above cost; a flat rebate of ₹45 is then given at the counter. The profit made on the sale is:
9During a clearance, a microwave oven tagged at ₹4,800 is offered successive discounts of 15% and 10%. The cash paid by the buyer equals:
10A pair of identical office chairs cost ₹12,500 each. One chair was sold at a 15% profit and the other at a 5% loss. On the combined deal the trader's overall result is:
11An artisan parted with a brass idol for ₹2,380 and thereby suffered a 15% loss. At what price must the same idol be sold to secure a 20% gain?
12What markup percent on cost must a dealer apply to a pressure cooker so that, after allowing a 20% discount on the marked price, he still gains 25%?
13Two lots of stationery were cleared for ₹8,250 apiece. A profit of 10% was booked on the first lot while a loss of 12% was booked on the second. The dealer's overall shortfall relative to cost was:
14Two identical desk lamps are purchased at ₹450 each. One is sold at a 10% profit and the other at a 10% loss. What is the net monetary outcome on the pair?
15With a cost base of ₹2,000, a table lamp is marked 30% above cost and then sold after a 10% discount on the marked price. The profit percent earned is: