Profit and Loss Discount Questions PDF for SSC, Railways and Banking Exams
Profit and Loss Discount Questions PDF for SSC, Railways and Banking Exams

Quant Booster Dose – Profit and Loss Discount Questions PDF

Profit and Loss Discount Question PDF with Answers for government exams like SSC, Railways, Banking, FCI, CWC, Insurance Exams, UPSC, and other state PCS exams. As we all know in many competitive exams in Quantitative Aptitude/ Numerical Ability subject Compound Interest Questions asked repeatedly, so you cannot ignore the Profit and Loss Discount Questions PDF.

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Profit and Loss Discount Questions PDF for SSC, Railways and Banking Exams

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Profit and Loss Discount Questions with Answers | Download Free PDF

What is Discount?

Discount is the reduction in the price of an object or service that is used to increase the sales of any business and helps to retain customers in a business. The price at which a retailer gets the object from the manufacturer is called the cost price and after factoring its transportation cost, damage, and profit the price increased by the retailer is called the Marked Price(MP) of the object. The discount is always given on the MP of the object. Discount is given by the retailer when he wants to remove its inventory faster or wants to increase its sales.

Selling price of the object is the price of the object after the discount. Discount is given represented as ‘Off’. Discount is always given as a percentage, for example, 50% Off, means indicates that the object is selling at 50% price less than its MRP. Here, 50% is the discount given on the object.

Discount = Marked Price – Selling Price

The discount is always calculated on the listed price while considering the selling price.

‘Listed price’ is the usual price of a commodity not inclusive of any discount.

‘Selling price’ is the amount we actually pay to acquire the commodity when we buy.

Formulas for Discount Questions

Various Formula that are used to find the discount on various objects are,

Discount = Marked Price – Selling Price

Discount = List Price – Selling Price

Discount(%) = (Discount/Marked Price) × 100

Discount Rate Formula

Discount rate is the rate of the article that is calculated after the discount. Suppose a retailer gives a 10% discount on an object then the price of the object after the discount is the selling price and the discount rate is the deduction offered by the retailer. The discount rate is calculated using the formula as,

  • Discount Rate = Marked price – Selling price

In percentage discount rate is calculated as,

  • Discount(%) = (MP – SP)/MP × 100
  • Discount (%) = Discount/MP × 100

Successive Discount Formula

Successive Discount means the discount given on the discounted item. It is similar to the compound interest which is similar to interest on interest. To calculate the successive discount given on any object we use the formula as, suppose a discount of x% and y% is offered on an object then successive discount formula for total discount is,

Total Discount = (x + y -xy/100)%

Profit and Loss Discount Practice Questions with Answers

1. If the selling price of an article is 8% more than the cost price and the discount offered is 10% on the marked price of the article, then what is the ratio of the cost price to the marked price?

(a) 8 : 9

(b) 3 : 4

(c) 5 : 6

(d) 4 : 5

(e) None of these

Show Correct Answers

Correct Answer:  (c) 5 : 6

Explanation:  Let the cost price be Rs. 100

SP of the article = 100 × (108/100) = Rs. 108

MP of the article = 108 × (100/90) = 120

∴ Ratio of CP to MP = 100 : 120 = 5 : 6

2 . A dealer marks his goods at 20% above the cost price and allows a discount of 15%. What is his gain percentage?

(a) 3%

(b) 4%

(c) 2%

(d) 1%

(e) None of these

Show Correct Answers

Correct Answer:  (c) 2%

Explanation:  Let the CP be 100.

Marked price = 100 + 20% of 100

= 120

Selling price = 120 * (100 – 15)%

= 102

Profit = 102 – 100

= 2

Profit % = (2 / 100) x 100

3. Piyush marks the price of his article 30 percent more than its cost price. If he sells the article for Rs. 5720 after allowing a discount of 20 percent, then what will be the cost price of the article?

(a) Rs. 5000

(b) Rs. 5350

(c) Rs. 5200

(d) Rs. 5500

(e) None of these

Show Correct Answers

Correct Answer:  (d) Rs. 5500

Explanation:  Piyush marks the price more than the cost price by = 30%

Discount = 20%

Selling price of the article = Rs. 5720

Formula:

SP = MP × [(100 – Discount%)/100]

Calculation:

MP of the article = 5720 × 100/80

∴ Cost price of the article = 5720 × 100/80 × 100/130 = Rs. 5500

4. In a grocery store, an item with an MRP of Rs 1,000 is on a discount counter with a special prices of Rs 979. What is the percentage of discount given for that item?

(a) 2.1%

(b) 0.9%

(c) 1.2%

(d) 1.1%

(e) None of these

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Correct Answer:  (a) 2.1%

Explanation:  MRP = Rs 1,000

Discounted Special Price = Rs. 979

Formula Used-

Discount % = (MRP – Discounted Price)/MRP × 100

Calculation-

Discount % = (1000 – 979)/1000 × 100 =  2.1

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5. A shopkeeper buys a gadget for Rs. 1,125 after getting 25% discount. If he sells it by allowing 10% discount on the marked price, then how much does he gain?

(a) Rs. 150

(b) Rs. 225

(c) Rs. 325

(d) Rs. 250

(e) None of these

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Correct Answer:  (b) Rs. 225

Explanation:  A shopkeeper buys a gadget for Rs. 1,125 after getting 25% discount.

Concept used:

Selling price = Marked price × (100 – discount)%

Profit = Selling price – cost price

Calculation:

Marked price × 75% = 1125

⇒ Marked price = 1125 × (100/75)

⇒ Marked price = 1500

Now,

His selling price = 1500 × 90

⇒ 1350

Gain = 1350 – 1125

⇒ Gain = 225

6. The cost price of a table is ₹ 6,400, A merchant wants to make 25% profit by selling it. At the time of the sale, he declares a discount of 20% on the marked –

(a) ₹ 16,000

(b) ₹ 14,500

(c) ​₹ 10,000

(d) ₹ 14,000

(e) None of these

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Correct Answer:  (c) ₹ 10,000

Explanation:  Cost Price (CP) = ₹6,400

Profit Percentage = 25%

Discount Percentage = 20%

Formula used:

  1. Selling Price (SP) = CP × (1 + Profit Percentage / 100)
  2. Marked Price (MP) = SP / (1 – Discount Percentage / 100)

Calculations:

  1. SP = 6400 × (1 + 25 / 100)

⇒ SP = 6400 × 1.25

⇒ SP = 8000

  1. MP = 8000 / (1 – 20 / 100)

⇒ MP = 8000 / 0.80

⇒ MP = 10000

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7. A shopkeeper marks the price of a book 120% above its cost price. If he gives a discount of 10% on the marked price, then find his profit %.

(a) 65%

(b) 60%

(c) 98%

(d) 110%

(e) None of these

Show Correct Answers

Correct Answer:  (c) 98%

Explanation:  Cost Price (CP) = ₹100 (assuming for simplicity)

Marked Price (MP) = CP + 120% of CP

Discount = 10%

Formula used:

MP = CP + 1.2 × CP

SP = MP – 10% of MP

Profit % = (SP – CP) / CP × 100

Calculation:

MP = 100 + 1.2 × 100

⇒ MP = 100 + 120

⇒ MP = 220

SP = MP – 10% of MP

⇒ SP = 220 – 0.1 × 220

⇒ SP = 220 – 22

⇒ SP = 198

Profit % = (198 – 100) /100 × 100

⇒ Profit % = 98%

8. A retailer marks up his goods by 150% and offers a 40% discount. What will be the selling price if the cost price is ₹ 1,600?

(a) ₹ 2,400

(b) ₹ 2,500

(c) ₹ 3,000

(d) ₹ 2,000

(e) None of these

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Correct Answer:  (a) ₹ 2,400

Explanation:  Cost Price (CP) = ₹1,600

Markup = 150%

Discount = 40%

Formula used:

Selling Price (SP) = Marked Price (MP) – Discount

MP = CP + (Markup% of CP)

Discount = Discount% of MP

Calculation:

MP = 1600 + (150% of 1600)

⇒ MP = 1600 + (1.5 × 1600)

⇒ MP = 1600 + 2400

⇒ MP = 4000

Discount = 40% of 4000

⇒ Discount = 0.4 × 4000

⇒ Discount = 1600

SP = MP – Discount

⇒ SP = 4000 – 1600

⇒ SP = 2400

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9. With a 5% discount on the cost of sugar, a buyer could purchase 2 kg more sugar for Rs. 608. What is the original selling price of sugar? (in Rs/kg)

(a) 14.50

(b) 15

(c) 16.50

(d) 16

(e) None of these

Show Correct Answers

Correct Answer:  (d) 16

Explanation:  Discount = 5%

Extra sugar bought = 2 kg

Total money spent = ₹608

Formula used:

Let the original price of sugar be ₹x per kg.

With a 5% discount, the price per kg becomes 95% of ₹x, which is (95/100) × x.

Total sugar bought with discount = 608 ÷ (95/100) × x kg

Total sugar bought without discount = 608 ÷ x kg

Difference in quantity of sugar = 2 kg

Calculation:

608 ÷ (95/100) × x – 608 ÷ x = 2

⇒ (608 × 100)/(95x) – 608/x = 2

⇒ (60800 – 608 × 95)/(95x) = 2

⇒ (60800 – 57760)/(95x) = 2

⇒ 3040/(95x) = 2

⇒ 3040 = 190x

⇒ x = 3040 ÷ 190

⇒ x = 16 Rs/kg

10. A shopkeeper allows a rebate of 12% on the marked price of an article such that the selling price is Rs. 1320. Then the marked price of the article is:

(a) Rs.1490

(b) Rs.1500

(c) Rs. 1600

(d) Rs.1550

(e) None of these

Show Correct Answers

Correct Answer:  (b) Rs.1500

Explanation:  Selling Price (SP) = Rs. 1320

Rebate = 12%

Formula Used:

SP = Marked Price (MP) × (1 – Rebate/100)

Calculation:

Let the Marked Price (MP) be Rs. x.

Rebate = 12%

SP = MP × (1 – Rebate/100)

1320 = x × (1 – 12/100)

1320 = x × (88/100)

1320 = x × 0.88

⇒ x = 1320 / 0.88

⇒ x = 1500

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8700+ Quantitative Aptitude Topic wise Questions and Answers – Download Free PDF

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Quant Booster Dose – Topic-wise Quantitative Aptitude Questions and Answers