Profit/Loss & Discount

Ladakh Prison Department · 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

If a discount of 20% is allowed on the marked price of an article, the shopkeeper gains 40%. If the discount is increased to 25%, what will be the shopkeeper's gain?

  1. 33 1/4%
  2. 29 1/4%
  3. 35%
  4. 31 1/4%
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Answer: D. Let the marked price be 100. Cost price = 100 × 0.8 ÷ 1.4 = 57 1/7. New selling price = 75. Gain % = 31 1/4%.

Sample Medium question 5

If a discount of 20% is allowed on the marked price of an article, the shopkeeper gains 30%. If the discount is increased to 30%, what will be the shopkeeper's gain?

  1. 11 3/4%
  2. 15 3/4%
  3. 20%
  4. 13 3/4%
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Answer: D. Let the marked price be 100. Cost price = 100 × 0.8 ÷ 1.3 = 61 7/13. New selling price = 70. Gain % = 13 3/4%.

Sample Medium question 6

If a discount of 25% is allowed on the marked price of an article, the shopkeeper gains 20%. If the discount is increased to 30%, what will be the shopkeeper's gain?

  1. 14%
  2. 12%
  3. 15%
  4. 10%
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Answer: B. Let the marked price be 100. Cost price = 100 × 0.75 ÷ 1.2 = 62 1/2. New selling price = 70. Gain % = 12%.

Sample Hard question 7

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.

Sample Hard question 8

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.

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