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 Most Important Multiple Choice Questions
 Online Profit and Loss Exercise with Correct Answer Key and Solutions
 Useful for all Competitive Exams
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Question 1 of 20
1. Question
Deepa bought a calculator at 30% discount on the listed price. Had she not got the discount, she would have paid Rs 82.50 extra. At what price did she buy the calculator?
Hint
List price of calculator
= Rs 275
Deepa bought calculator in
275 × 0.70 = Rs 192.50

Question 2 of 20
2. Question
Mohan bought a watch with 25% discount on the selling price. If the watch cost her Rs 1,545, what is the original selling price of the watch?
Hint
Let the marked price (SP) = Rs x
According to the question,
75% of x = 1545
⇒ x =
= Rs 2060

Question 3 of 20
3. Question
Vinita bought a watch with 24% discount on the selling price. If the watch cost her Rs 779, what is the original selling price of the watch?
Hint
Let the original selling price of watch = Rs x
According to the question,
x × = 779
or, x = = Rs 1025

Question 4 of 20
4. Question
In a sale, a perfume is available at a discount of 15% on the selling price. If the perfume’s discounted selling price is Rs 3675.4, what was the original selling price of the perfume?
Hint
Original selling price
=
= Rs 4324

Question 5 of 20
5. Question
A discount of 16% on the marked price of a book enables a man to buy a pen which costs Rs 80. How much did he pay for the book?
Hint
Let M.P. = Rs 100, then discount = Rs 16
∴ when discount = Rs 80, then M.P = Rs x
Now, it’s direct proportion
∴ 100 : x : : 16 : 80
⇒ 16x = 100 × 80
⇒ x = Rs 500
Now, since M. P. = Rs 500, therefore, after 16% discount man paid

Question 6 of 20
6. Question
A shopkeeper fixes the marked price of an item 20% above the cost price. He allows his customers a discount and makes a profit of 8%. Find the rate of discount.
Hint
Let C.P. = Rs 100. Then M.P. = Rs 120 and S.P. = Rs 108
% discount

Question 7 of 20
7. Question
A chair originally costs Rs 50. It was offered for sale at 108% of its cost. After a week, the price was 10% discounted and was sold. Find the sale price.
Hint
Offering price
After 10% discount, S.P.
= 90% of 54

Question 8 of 20
8. Question
A shopkeeper purchased a table marked at Rs 200 at successive discount of 10% and 15% respectively. He spent Rs 7 on transportation and sold the table for Rs 200. Find his gain %?
Hint
C.P.
= Rs 160
∴ % gain

Question 9 of 20
9. Question
A shopkeeper bought 150 calculators at the rate of Rs 250 per calculator. He spent Rs 2500 on transportation and packing. If the marked price of calculator is Rs 320 per calculator and the shopkeeper gives a discount of 5% on the marked price then what will be the percentage profit gained by the shopkeeper?
Hint
CP of 150 calculators
= 150 × 250 = Rs 37,500.
∴ total CP = 37,500 + 2500 = Rs 40,000
Marked price of 150 calculators
= 150 × 320 = Rs 48,000
Selling price after discount
= 48000 × = Rs 45,600
∴ Percentage profit
=

Question 10 of 20
10. Question
The list price of a watch is Rs 160. A retailer bought the same watch Rs 122.40. He got two successive discounts one at 10% and the other at a rate which was not legible. What is the second discount rate?
Hint
Retailer price = list price
⇒
⇒
⇒ d₂ = (1 – 0.85) × 100 = 15%

Question 11 of 20
11. Question
A video magazine distributor made 3500 copies of the March issue of the magazine at a cost of Rs 3,50,000. He gave 500 cassettes free to some key video libraries. He also allowed a 25% discount on the market price of the cassettes and gave one extra cassette free with every 29 cassettes bought at a time. In this manner, he was able to sell all the 3500 cassettes that were produced. If the market price of a cassette was Rs 150, then what is his gain or loss percent for the March issue of the video magazine?
Hint
CP of 3500 cassettes = Rs 3,50,000
SP of each set of 30 (29 + 1) cassettes
= Rs 29 × 112.50 = Rs 3262.50
∴ SP of 3500 cassettes including 500 free cassettes
= 3262.50 × 100 = Rs 3,26,250
Overall loss = Rs 3,50,000 – Rs 3,26,250 = Rs 23750
∴ % loss =

Question 12 of 20
12. Question
A shopkeeper marks up his goods to gain 35%. But he allows 10% discount for cash payment. His profit on the cash transaction therefore, in percentage, is
Hint
Let cost Price = Rs 100
∴ Marked price = Rs 135
After discount, selling price
= 135 – 13.5 = 121.5
∴ Profit% = 121.5 – 100 = 21.5%

Question 13 of 20
13. Question
A tradesman is marketing his goods 20% above the cost price of the goods. He gives 10% discount on cash payment, find his gain percent.
Hint
Let the C.P. of the goods be Rs 100
⇒ Marked price of the goods = Rs 120
Discount = 10%
⇒ S.P. is 90% of Rs 120 = Rs 108
∴ Gain% = (108 – 100) = 8%.

Question 14 of 20
14. Question
For a certain article, if discount is 25%, the profit is 25%. If the discount is 10%, then the profit is
Hint
For same article,
⇒
⇒
⇒
⇒ g₂ = 50%

Question 15 of 20
15. Question
A trader marks his goods at such a price that he can deduct 15% for cash and yet make 20% profit. Find the marked price of an item which costs him Rs 90 :
Hint
SP = 90 × 1.2 = Rs 108
Marked price
= = Rs 127.05

Question 16 of 20
16. Question
By selling an umbrella for Rs 30, a merchant gains 20%. During a clearance sale, the merchant allows a discount of 10% off the marked price (the price at which he used to sell). Find his gain per cent.
Hint
(100 + g₁) : S₁ : : (100 + g₂) : S₂
(100 + 20) : 30 : : (100 + g₂) :
[ 10% discount is allowed on S.P.]
120 : 30 : : (100 + g₂) : 27
⇒ g₂ = 8%

Question 17 of 20
17. Question
By what % must the cost of goods be marked up so that even after a discount of 20% the same amount is realised as before the discount?
Hint
Let C.P. = Rs 100, Also, let M.P. = Rs x
Given, C.P. after 20% discount on M.P. = C.P.
⇒ 80 % of x = 100
⇒
∴ M.P. = 25 % above C.P.

Question 18 of 20
18. Question
Goods are sold so that when a discount of 4 percent is given on the sale price, a profit of 20 percent is made. How much percent, is the sale price higher than the cost price?
Hint
Let the C.P. be Rs 100
S.P. = Rs 120
Discount being 4%, S.P. is 96% of sale price.
∴ 96% of sale price = Rs 120
⇒ sale price = Rs 120 ×
∴ Sale price is 25% higher than the C.P.

Question 19 of 20
19. Question
A private telephone company serving a small community makes a profit of Rs 12 per subscriber, if it has 725 subscribers. It decides to reduce the rate by a fixed sum for each subscriber over 725, thereby reducing the profit by 1 paise per subscriber. Thus, there will be profit of Rs 11.99 on each of the 726 subscribers, Rs 11.98 on each of the 727 subscribers etc. The number of subscribers which will give the company, the maximum profit, is:
Hint
Profit,
For maximum P,
Taking x = 237, 725 + 237 = 962
and x = 238, 725 + 238 = 963
However x = 237.5
⇒ Total P = 962.5

Question 20 of 20
20. Question
An uneducated retailer marks all his goods at 50% above the cost price and thinking that he will still make 25% profit, offers a discount of 25% on the marked price. What is his actual profit on the sales?
Hint
Let C.P. = Rs 100. Then, marked price = Rs 150.
S.P. = 75% of Rs 150 = Rs 112.50
∴ Gain % = 12.50%