model 2 hiking & discounting Section-Wise Topic Notes With Detailed Explanation And Example Questions

MOST IMPORTANT quantitative aptitude - 4 EXERCISES

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The following question based on discount topic of quantitative aptitude

Questions : A merchant allows a discount of 10% on marked price for the cash payment. To make a profit of 17%, he must mark his goods higher than their cost price by

(a) 40%

(b) 30%

(c) 27%

(d) 33%

The correct answers to the above question in:

Answer: (b)

C.P. of article = Rs.100

Let marked price of article x.

$x × 90/100 = 117$

$x = {117 × 100}/90$

= Rs.130 or 30% above the cost price.

Using Rule 8,

Here, $r_1$ = 10%, gain % = 17%, r = ?

Gain % = ${r × (100 - r_1)}/100 - r_1$

17 = ${r × (100 - 10)}/100 - 10$

27 = ${r × 90}/100$ ⇒ r = 30%

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Question : 1

A merchant marks his goods 40% above the cost price and sells them at a discount of 15%. Find his gain %.

a) 22%

b) 20%

c) 19%

d) 25%

Answer: (c)

Let the C.P. of each article be Rs.100.

Marked price = Rs.140

S.P. = ${140 × 85}/100$ = Rs.119

Gain per cent = 19%

Using Rule 8,

Here, r = 40%, $r_1$ = 15%

Gain % = ${r × (100 - r_1)}/100 - r_1$

= ${40 × (100 - 15)}/100 - 15$

= ${40 × 85}/100 - 15$

= $3400/100$ - 15 = 19%

Question : 2

A shopkeeper marks his sarees at 20% above the cost price and allows the purchaser a discount of 10% for cash buying. What profit percent does he make?

a) 12%

b) 8%

c) 10%

d) 18%

Answer: (b)

Gain % = $20 - 10 - {20 × 10}/100$

= 20 - 12 = 8%

Using Rule 8,

Here, r = 20%, $r_1$ = 10%

Profit or loss

= ${r × (100 - r_1)}/100 - r_1$

= ${20 × (100 - 10)}/100 - 10$

= 18 - 10 = 8% profit.

Question : 3

A shopkeeper allows a discount of 10% on the marked price of an item but charges a sales tax of 8% on the discounted price. If the customer pays Rs.3,402 as the price including the sales tax, then the marked price is

a) Rs.3,500

b) Rs.3,800

c) Rs.3,600

d) Rs.3,400

Answer: (a)

Marked price of article = Rs.x (let)

S.P. of article

= Rs.$(x × 90/100 × 108/100)$

$x × 90/100 × 108/100$ = 3402

$x = {3402 × 100 × 100}/{90 × 108}$

$x$ = Rs.3500

Question : 4

If the discount is equal to one fifth of the marked price and the loss is half the discount, then the percentage of loss is

a) 11$1/9$%

b) 13$1/9$%

c) 12$1/9$%

d) 10$1/9$%

Answer: (a)

Marked price = Rs.x

Discount = Rs.$x/5$

S.P. = $x - x/5 = Rs.{4x}/5$

Loss = Rs.$x/10$

C.P. = ${4x}/5 + x/10$

= ${8x + x}/10 = Rs.{9x}/10$

Loss per cent = ${x/10}/{{9x}/10} × 100$

= $100/9 = 11{1}/9$%

Question : 5

The marked price is 20% higher than cost price. A discount of 20% is given on the marked price. By this type of sale, there is

a) 2% loss

b) 4% gain

c) no loss no gain

d) 4% loss

Answer: (d)

Let Cost price = Rs.100

Marked price = Rs.120

Selling price = ${120 × 80}/100$ = Rs.96

Loss = Rs.4 and loss per cent = 4%

Using Rule 8,

Here, r = 20%, $r_1$ = 20%

Loss % = ${r × (100 - r_1)}/100 - r_1$

= ${20 × (100 - 20)}/100 - 20$

= ${20 × 80}/100 - 20$

= –4% (–ve sign shows loss)

= 4% loss

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