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Profit, Loss and Discount

Description: TNSF BANK PO CLERK QUANT
Number of Questions: 15
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Tags: TNSF BANK PO CLERK QUANT Profit and Loss
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By selling an article for Rs. 456.30, a man loses 22%. At what rate price should he sell it in order to gain 30%?

  1. Rs. 750

  2. Rs. 750.50

  3. Rs. 760.50

  4. Rs. 700

  5. Rs. 720

Show answer
Correct Option: C
Explanation:

SP = 456.30 and Loss = 22%

CP = (SP * 100)/(100 - Loss%)

= (456.30 * 100)/(100 - 22)

= 585

So, CP of the article is Rs. 585. 

Now, the profit is 30%. 

Then, SP = CP(100 + Profit%)/100. 

= 585(100 + 30)/100 

= 760.50

So, the SP at 30% profit is 760.50.

Two watches were sold at Rs. 1050 each. On one, a gain of 11% was earned and on the other, a loss of 11% was suffered. How much percent loss or percent gain is made in the whole transaction?

  1. Loss 1.21%

  2. No gain, no loss

  3. Gain 1%

  4. Loss 1%

  5. Loss 2%

Show answer
Correct Option: A
Explanation:

Here, the sale price of the two watches is the same.

Gain% = loss% = 11%

In such a case, there is always a loss. 

To find overall loss%, use this shortcut formula: 

Overall % loss = (x/10)2

= (11/10)2

= 1.21%

A trader purchased 120 bags of cement at Rs. 500 per bag. He sold 50 bags at 20% profit and 50 bags at 5% loss. At what rate per bag should the remaining bags be sold so as to gain 10% on the whole transaction?

  1. Rs. 562.50

  2. Rs. 550.50

  3. Rs. 600.50

  4. Rs. 655.50

  5. Rs. 650.50

Show answer
Correct Option: A
Explanation:

Total number of bags = 120

Remaining bags = 100 - 50 - 50 = 20

To find overall profit/loss %, use this shortcut formula: 

%Gain or %loss on the whole property = Sum of product of quantity and respective gain or loss%/amount of whole property 

10 = (50 * 20 - 50 * 5 - 20 * x)/120

x = +12.5% (profit) 

SP of remaining bags = 112.5 * 500/100 = Rs. 562.50 per bag

A dishonest shopkeeper professes to sell his clothes at the cost price, but he uses a false length scale of 85 cm for each metre. Find his gain percent.

  1. 17.65%

  2. 15%

  3. 16%

  4. 14.45%

  5. 14%

Show answer
Correct Option: A
Explanation:

To find the answer of this question, use this shortcut formula,

(100 + G)/(100 + X) = True length/False length 

(100 + G)/100 = 100/85 (since he sells at cost price, so x = 0) 

G = 17.65%

So, his required gain is 17.65%.

The cost price of 32 articles is equal to the selling price of 20 articles. Find the gain%.

  1. 60%

  2. 50%

  3. 40%

  4. 30%

  5. 20%

Show answer
Correct Option: A
Explanation:

According to question,

32 * CP = 20 * SP

SP/CP = 32/20 = 8/5 

Now, use this shortcut formula:

Gain% = (SP/CP - 1) * 100

= (8/5 - 1) * 100

 = 60%

A trader offers his customers 15% discount and still makes 36% profit. What is the actual cost to him of an article marked Rs. 320?

  1. Rs. 150

  2. Rs. 300

  3. Rs. 250

  4. Rs. 200

  5. Rs. 225

Show answer
Correct Option: D
Explanation:

MP = Rs. 320, Profit = 36%, Discount = 15%

SP = 320 - 320 * 15/100 = Rs. 272

CP = (SP * 100)/(100 + Profit%) 

= (272 * 100)/(100 + 36) = Rs. 200

A shopkeeper offers 12% discount on plastic toys. He offers a further discount of 5% on cash payment. What will a customer have to pay in cash for a toy of Rs. 300?

  1. Rs. 200

  2. Rs. 220.80

  3. Rs. 230

  4. Rs. 250.80

  5. Rs. 250

Show answer
Correct Option: D
Explanation:

Find the equivalent discount with this shortcut formula:

Single equivalent discount = x + y - xy/100 

= 12 + 5 - 12 * 5/10 

= 16.4%

Net selling price = 300 - 300 * 16.4/100 

= 250.80

So, a customer will have to pay Rs. 250.80.

A man sold two almirahs for Rs. 4500 each. On one, he gains 12.5% and on the other, he loses 10%. Find the overall percentage gain or loss in the whole transaction.

  1. 2.5% gain

  2. 2% loss

  3. No profit, no loss

  4. Data inadequate

  5. 1% gain

Show answer
Correct Option: C
Explanation:

Let %gain on first almirah (g) be 12.5% and %loss on second almirah (l) be 10%.

Then, overall profit/loss% = 100 - (100 + g)(100 - l)/[(100 + g) + (100 - l)] 

= 100 - (100 + 12.5)(100 - 10)/[(100 + 12.5) + (100 -10)] 

= 100 - 100 

= 0%

So, there is no profit and no loss.

A person sells 35 oranges for a rupee and suffers a loss of 4%. How many oranges should he sell for a rupee to have a gain of 12%?

  1. 25 oranges

  2. 30 oranges

  3. 32 oranges

  4. 20 oranges

  5. 24 oranges

Show answer
Correct Option: B
Explanation:

SP of 1 orange = Rs. 1/35

Now, apply this shortcut formula,

S1/(100 + X1) = S2/(100 + X2) 

(X1 and X2 is profit or loss%) 

(1/35)/(100 - 4) = S2/(100 + 12) 

S2 = 1/30 

Now, let y oranges be sold for a rupee. Then,

(1/30) * y = 1 

y = 30 

So, the required number of oranges is 30.

A shopkeeper purchased 12 kg of rice at Rs. 720 and sold them at a loss equal to the selling price of 4 kg of rice. Find the SP of rice per kg.

  1. Rs. 35

  2. Rs. 30

  3. Rs. 45

  4. Rs. 40

  5. Rs. 32

Show answer
Correct Option: C
Explanation:

Let the SP of rice per kg be Rs. x.

Loss = CP - SP

4 * x = 720 - 12 * x

x = 45

So, the selling price of rice per kg is Rs. 45.

A man sells a book at profit of 30%. If he had bought it at 10% less and sold it for Rs. 8 less, he would have gained 40%. Find the cost price of the book.

  1. Rs. 250

  2. Rs. 300

  3. Rs. 200

  4. Rs. 350

  5. Rs. 225

Show answer
Correct Option: C
Explanation:

Let the CP of the book be Rs. x. 

Now, if the profit = 30% 

Then SP = CP(100 + Profit)/100 

= x(100 + 30)/100 

= 130x/100 

If the CP is 10% less and SP is Rs. 8 less,

Then CP = X - X * 10/100 = 90X/100

Now, according to the question,

[90x(100 + 40)]/(100 * 100) = 130x/100 - 8 

After solving this equation,

x = 200 

So, cost price of the book is Rs. 200.

How much percent above the cost price should a shopkeeper mark his goods so as to earn a profit of 30% after allowing a discount of 12% on the marked price?

  1. 47.73%

  2. 45.72%

  3. 40.75%

  4. 40%

  5. 45.5%

Show answer
Correct Option: A
Explanation:

Let the CP of goods be Rs. x.

MP has been marked y% above the CP. 

So, MP of goods = x + xy/100 

Now, according to question,

(x - xy/100) - (x - xy/100) * (12/100) = 130x/100 

After solving this equation, we get

y = 47.73%

So, the marked price will have to fixed 47.73% above the cost price.

A man sells his car for Rs. 3 lakh and loses some amount. Had he sold it for Rs. 5.60 lakh, his gain would have been Rs. 0.40 lakh less than the former loss. Find the cost price of the car.

  1. Rs. 3.50 lakh

  2. Rs. 4.50 lakh

  3. Rs. 2.50 lakh

  4. Rs. 5 lakh

  5. Rs. 2 lakh

Show answer
Correct Option: B
Explanation:

Let the CP of the car be Rs. x  lakh and loss be Rs. y lakh. 

Then, loss = CP - SP

y = x - 3 -------------------(1) 

Again y - 0.40 = 5.60 - x --------------------(2) 

After solving, we get 

x = 4.50 and y = 1.5

So, the CP of the car Rs. 4.50 lakh.

A shopkeeper earns a profit of 20% on selling a book at 5% discount on printed price. Find the ratio of the cost price to the printed price.

  1. 19 : 24

  2. 20 : 21

  3. 19 : 25

  4. 21 : 25

  5. 4 : 5

Show answer
Correct Option: A
Explanation:

Let the printed price of the book be Rs. x.

The selling price of the book at 5% discount = 95x/100 

CP of the book = (SP * 100)/(100 + Profit%)

= (95x * 100)/120 = 95x/120 

Now, ratio = (95x/120)/x = 19 : 24

If a merchant estimates his profit as 14% of selling price, then what is the real profit percent?

  1. 16.28%

  2. 15.25%

  3. 14.5%

  4. 12%

  5. 13.28%

Show answer
Correct Option: A
Explanation:

Use this shortcut formula,

Real profit% (% profit on CP) = % profit on SP * 100/(100 - % profit on SP) 

= (14 * 100)/(100 - 14) 

= 16.28%

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