# Profit and Loss Questions with Answers for SBI Clerk, CET, IBPS Clerk, IBPS RRB, LIC Assistant 2021 at Smartkeeda

Directions : Read the following questions carefully and choose the right answer.
Important for :
1
Rama kant dealing in bedsheets allows 4% discount on the marked price. What price must be marked on a bedsheet that cost Rs. 480 so as to make a profit of 10%?
» Explain it
D
Cost price = Rs. 480 Rs.

Profit = 480 × 10% = 48

S. P. = 480 + 48 = 528 Rs.

Discount % = 4%

Discount is always given on the marked price, So

x × 96%  = 528

x = 550 Rs.

Hence, option D is correct.
2
What will be the percentage profit after selling an article at a certain price if there occur a loss of 35% on selling the article 3/5 of the selling price?
» Explain it
A
Let the actual SP = 5/-

 ∴   New SP = 3 × 5 = 3/- 5
As per the question,
 CP = 100 × SP = 100 × 3 = 60 /- (100 – Loss%) 65 13

∴   Actual gain on selling the item at the actual selling price
 = 5 – 60 = 5 13 13

 ∴   Gain% = 5/13 × 100% = 8.33% 60/13

Hence, option A is correct.

3
A profit of 13% is made by selling a shirt after offering a discount of 20%. If the marked price of the shirt is Rs. 2260, find its cost price.
» Explain it
C
According to the question, we get the equation

 = 100 × (100 – Discount%) × Marked Price (100 + G %) 100

 = 100 × 80 × 2260 = Rs. 1600/- 113 100

Hence, option C is correct.
4
An article costs Rs. 500 and the marked price is mentioned as Rs. 800. What is the profit % for the seller if he sells and offers a discount of 10% on the marked price?
» Explain it
B
After allowing 10% discount on marked price, we get

90% of 800 = 720

Therefore, SP = 720

The Profit is SP – CP.

Profit = 720 – 500 = 220

 Profit % = Profit × 100 CP

 = 220 × 100 = 44% 500

Hence, option B is correct.

5
Rakesh bought a cycle for Rs. 800. and marked it up by 50% and gave a discount of 10%. A customer came in to buy the cycle and bargained with Rakesh for an additional discount of 20% on the already discounted price. What is the profit earned by Rakesh?
» Explain it
C
The marked up price becomes 150% of  800 = 1200

After the first discount the price becomes= 90% of 1200 = 1080

After the second discount the price becomes = 80% of 1080 = 864

So the profit earned is 864 – 800 = Rs. 64

Hence, option C is correct.