CAT Practice: Profit & Loss - 2 - Free MCQ Test with solutions for Quant

A dishonest cloth merchant marks up the price of his cloth by 20%, and does not offer any discount unless asked for. Also, while selling, he uses a metre scale, whose actual length is 80cm. One fine day, an old woman visits his shop to buy some cloth. She is good at bargaining and consequently manages to buy the cloth at a price such that the merchant's net profit or loss is zero. What is the discount percentage she managed to get on the marked price while buying the cloth?

A dishonest shopkeeper adulterates the black pepper with papaya seeds. For each 1000 grams of real pepper, he adds 100 grams of papaya seeds. On top of that, he markups the price by 20% and then offers a discount of 15%. What is his profit % from the resulting sales?

Assume that the cost of papaya seeds is negligible.

A retailer buys a certain amount of tea at the rate of Rs. 100 per 500gm from a wholesaler. He then distributes the tea into small packets, each containing 20gm of tea, with negligible overhead costs. He marks each packet at Rs. 6. Later, he finds out that 90 packets had packaging issues and he had to reject them. He sells the remaining packets at their marked price and gets a profit of 39.20% in the entire process. What is the amount of tea he had bought initially?

A toothpaste manufacturer sells toothpaste to a wholesaler at a price such that the manufacturer has a profit of 10%. The wholesaler sells the toothpaste to a retailer such that the profit earned is 20% of the cost price of manufacturing it. The retailer sells the toothpaste to customers at mentioned MRP and gets 20% profit from the sales. If the customer had to pay Rs 312 for one tube of toothpaste, what will be the profit earned by the wholesaler by selling 5 toothpaste tubes to the retailer?

A cunning rice merchant uses a faulty weighing machine to cheat. While buying the rice from the whole seller he uses a faulty machine which shows the quantity 20% less than actually on the scale. While selling the rice, he uses another faulty scale which shows 10% extra weight than that on the scale. He marks up the price of rice by 20% on the rate he bought from the wholesaler. Sherlock found out about this scam and asked the rice seller to give approximately a d% discount on the current marked price so that the rice seller doesn't make a profit or a loss. What is the value of [d]?
[X] represents the largest integer less than or equal to X.

On the market of Covent Garden, Mrs. Smith and Mrs. Jones sell apples. Mrs. Jones sells her apples for two per rupee. The apples of Mrs. Smith are a bit smaller; she sells hers for three per rupee. At a certain moment, when both ladies have the same number of apples left, Mrs. Smith is being called away. She asks her neighbor to take care of her goods. To make everything not too complicated, Mrs. Jones simply puts all apples to one big pile, and starts selling them for two rupee per five apples. When Mrs. Smith returns the next day, all apples have been sold out. But when they start dividing the money, there appears to be a shortage of seven rupees. Supposing they divide the amount equally, how much in Rupees does Mrs. Jones lose in this deal?

Ram sells only jeans of a particular make all of which he bought at the same price. During the Diwali festival, he started the "Buy 4 get 1 free " offer and on top of that, he gave 10% off on the bill. Despite such discounts, he made a profit of 5%. By, what percent was the cost of jeans marked up if all the customers availed both the offers?

Ram buys rice from a whole sale dealer at Rs. 100 per Kg and sells it to his customers. While purchasing the rice, he noticed that the wholesaler was cheating him and was using a scale that showed 10% more weight than it was weighing. Instead of fighting with the wholesaler, he decided to markup his selling price in such a way that he earns a profit of 10%. What should the selling price (per Kg) be if Ram uses an accurate scale while selling to his customers?

If the selling price of the article is reduced by 40% and the cost price remains the same, the profit reduces by 50%. Find the original profit % of the article?

Minu purchases a pair of sunglasses at Rs.1000 and sells to Kanu at 20% profit. Then, Kanu sells it back to Minu at 20% loss. Finally, Minu sells the same pair of sunglasses to Tanu. If the total profit made by Minu from all her transactions is Rs.500, then the percentage of profit made by Minu when she sold the pair of sunglasses to Tanu is

A shopkeeper offers a discount of 22% on the marked price of each chair, and gives 13 chairs to a customer for the discounted price of 12 chairs to earn a profit of 26% on the transaction. If the cost price of each chair is Rs 100, then the marked price, in rupees, of each chair is

The monthly sales of a product from January to April were 120, 135, 150 and 165 units, respectively. The cost price of the product was Rs. 240 per unit, and a fixed marked price was used for the product in all the four months. Discounts of 20%, 10% and 5% were given on the marked price per unit in January, February and March, respectively, while no discounts were given in April. If the total profit from January to April was Rs. 138825, then the marked price per unit, in rupees, was

Amal buys 110 kg of syrup and 120 kg of juice, syrup being 20% less costly than juice, per kg. He sells 10 kg of syrup at 10% profit and 20 kg of juice at 20% profit. Mixing the remaining juice and syrup, Amal sells the mixture at ₹ 308.32 per kg and makes an overall profit of 64%. Then, Amal’s cost price for syrup, in rupees per kg, is

A wholeseller supplies few chips to a retailer every year. Each chip costs Rs 10,000 to the wholeseller. 5% of the chips are defective and they are to be replaced without charging anything extra. If the wholeseller still makes a profit of 20%, at what price is he selling it to retailer?

A shopkeeper purchases his goods at a discount of 10% on the list price. He normally gives a discount of 6% to his customers. If during a special scheme, he gets an additional discount of 2% on his purchase price, find his approximate profit percentage.