DI on Profit Loss and Discount

A chunk of Questions is asked from Data Interpretation in the Quantitative Aptitude Section of banking exams.  In this study note we will discuss DI (Data Interpretation)  based on profit Loss and Discount which are frequently asked in various competitive exams.

Profit Loss and Discount Basic Concept:

Let us learn profit and loss concepts in maths. It is well explained in terms of cost price and selling price.

Profit(P)

The amount gained by selling a product with more than its cost price.

Loss(L)

The amount the seller incurs after selling the product less than its cost price, is mentioned as a loss.

Cost Price (CP)

The amount paid for a product or commodity to purchase it is called a cost price. Also, denoted as CP. This cost price is further classified into two different categories:

• Fixed Cost: The fixed cost is constant, it doesn’t vary under any circumstances
• Variable Cost: It could vary depending as per the number of units

Selling Price (SP)

The amount for which the product is sold is called Selling Price. It is usually denoted as SP. Also, sometimes called a sale price.

Marked Price Formula (MP)

This is basically labelled by shopkeepers to offer a discount to the customers in such a way that,

 Here we Discuss DI based on profit loss

 Direction :Given table shows the profit/loss, discount and marked up percent on 6 different electronic articles .

Question 1:  An owner of the electronics shop sold the cooler to a customer at a loss given in the table. Had he sold it for Rs.475 more, he would have gained a profit of 11%. What is the marked price of the cooler?

A)Rs. 2300                            B)Rs. 2500                            C)Rs. 2700                            D)Rs. 2900                         

Solution:

Question 2 : If shopkeeper marked Oven 10% above CP and Geyser 20% above CP and also the CP of Oven is half of the CP of Geyser then find the amount of discount offered by shopkeeper on oven if gained Rs.1000 on selling Geyser ?

A) Rs. 1375                            B) Rs. 1575                            C) Rs. 1480                            D) Rs. 1200          

Solution: 

Let CP of Geyser = 100x
SP of Geyser = 110% of 100x = 110x
Profit = 110x – 100x = 10x = 1000 (Given)

Question 3: The difference between the selling prices of an A.C and a Television is Rs.15400 when Television is sold at a profit of 12%. Cost price of A.C is Rs.15000 more than that of Television. What is the Cost price of A.C.?

A)Rs. 34000                         B)Rs. 25000                         C)Rs. 35000                          D)Rs. 20000       

Solution:

Question 4: Find the overall profit or loss per cent approximately made by a customer who bought 1 AC set and 1 cooler set. Cost price of 1 AC set is Rs. 30000 and cost price of 1 cooler set is Rs. 5000.

A)5.71%                                B)2.77%                                C)2.41%                                D)3.24%       

Solution:

Total CP = 30000 + 5000 = Rs.35000
SP of AC = 108% of 30000 = Rs.32400
SP of cooler = 92% of 5000 = Rs.4600
Total SP = 32400 + 4600 = Rs.37000

Total profit percent = (37000-35000) /35000 x 100 = 5.71 (Approx)

Hence, option (A) is correct.

Question 5: Find the total amount paid by a customer after purchasing 1 oven and 1 fridge if the shopkeeper marked the oven up by 15% and he gains 8% on the fridge. Cost price of oven is Rs.15000 and marked price of fridge is Rs.11500.

A)Rs. 13737.5                      B)Rs. 23737.5                      C)Rs. 22500                          D)Rs. 28737.5      

Solution:

CP of Fridge = 11500  x 100/115= Rs.10000