Profit/Loss & Discount

J&K Bank Banking Associate · Quantitative Aptitude · 109 practice questions with answers and explanations: 48 Easy, 59 Medium, 2 Hard.

Sample questions

Sample Easy question 1

An article is sold at a 20% loss for Rs. 800. Find its cost price.

  1. 900
  2. 1000
  3. 950
  4. 1050
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Answer: B. 800 is 80% of CP, so CP = 800/0.8 = 1000.

Sample Easy question 2

A shirt marked at Rs. 500 is sold after a 10% discount. Find the selling price.

  1. 430
  2. 450
  3. 440
  4. 460
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Answer: B. Discount = 50, selling price = 500 - 50 = 450.

Sample Easy question 3

A man buys an item for Rs. 400 and sells it for Rs. 460. Find his profit percentage.

  1. 15%
  2. 12%
  3. 18%
  4. 10%
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Answer: A. Profit = 60, profit% = 60/400 × 100 = 15%.

Sample Medium question 4

Two articles are sold at ₹2400 each. On one, there is a profit of 25%, and on the other, a loss of 25%. What is the overall result as a percentage of the total cost?

  1. 12.5
  2. 0
  3. 6.25
  4. 25
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Answer: C. When two articles are sold at the same price with equal profit and loss percentages (25%), there is always a loss of (25²/100)% = 6.25%.

Sample Medium question 5

Two articles are sold at ₹2000 each. On one, there is a profit of 25%, and on the other, a loss of 25%. What is the overall result as a percentage of the total cost?

  1. 0
  2. 25
  3. 12.5
  4. 6.25
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Answer: D. When two articles are sold at the same price with equal profit and loss percentages (25%), there is always a loss of (25²/100)% = 6.25%.

Sample Medium question 6

Two articles are sold at ₹1500 each. On one, there is a profit of 20%, and on the other, a loss of 20%. What is the overall result as a percentage of the total cost?

  1. 20
  2. 10
  3. 0
  4. 4
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Answer: D. When two articles are sold at the same price with equal profit and loss percentages (20%), there is always a loss of (20²/100)% = 4%.

Sample Hard question 7

A retailer buys a radio for Rs. 225 and sells it at a loss equal to what he would have gained by selling it for Rs. 320. Find the cost price he actually paid relative to a selling price giving no profit no loss.

  1. 275
  2. 280
  3. 272.50
  4. 277.50
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Answer: C. If loss at Rs. 225 equals gain at Rs. 320, the no-profit-no-loss price is the average: (225+320)/2 = 272.50.

Sample Hard question 8

By selling 45 lemons for Rs. 40, a man loses 20%. How many lemons should he sell for Rs. 24 to gain 20%?

  1. 15
  2. 18
  3. 16
  4. 20
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Answer: B. Cost of 45 lemons = 40/0.8 = 50, cost per lemon = 10/9. For a 20% gain on Rs. 24, cost needed = 24/1.2 = 20, so lemons = 20 ÷ (10/9) = 18.

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