Profit/Loss & Discount

LSSSSB Non-Technical · Mathematics · 47 practice questions with answers and explanations: 13 Easy, 32 Medium, 2 Hard.

Sample questions

Sample Easy question 1

An article bought for Rs. 200 is sold for Rs. 240. Find the profit percentage.

  1. 15%
  2. 24%
  3. 18%
  4. 20%
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Answer: D. Profit % = (240-200)/200 × 100 = 20%.

Sample Easy question 2

An article bought for Rs. 500 is sold for Rs. 425. Find the loss percentage.

  1. 18%
  2. 12%
  3. 15%
  4. 20%
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Answer: C. Loss % = (500-425)/500 × 100 = 15%.

Sample Easy question 3

An article costs Rs. 300. Find its selling price for a 10% profit.

  1. 325
  2. 330
  3. 340
  4. 320
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Answer: B. Selling price = 300 × 1.10 = Rs. 330.

Sample Medium question 4

A trader marks his goods 50% above the cost price and offers a discount, still making a 20% profit. Find the discount percentage.

  1. 16.67%
  2. 18%
  3. 22.5%
  4. 20%
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Answer: D. Let CP = 100. Marked price = 150. Desired SP for 20% profit = 120. Discount = (150-120)/150 × 100 = 20%.

Sample Medium question 5

A shopkeeper allows a 10% discount on the marked price and still gains 26%. If the cost price of an article is Rs. 500, find its marked price.

  1. 720
  2. 680
  3. 650
  4. 700
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Answer: D. SP = 500 × 1.26 = 630. Marked price = SP / 0.90 = 630/0.9 = 700.

Sample Medium question 6

Two articles are sold at the same price, one at a profit of 20% and the other at a loss of 20%. Find the overall profit or loss percentage on the total transaction.

  1. 4% loss
  2. 4% profit
  3. No profit no loss
  4. 8% loss
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Answer: A. When two items are sold at the same price with equal percentage profit and loss, there is always an overall loss of (common%/10)² = (20/10)² = 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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