alleryStart learning →An item is bought for ₹400 and sold for ₹480. Find the gain percent.
- $15\%$
- $20\%$
- $25\%$
- $30\%$
Show answer and solution
Correct answer: B. $20\%$
Gain $= 480 - 400 = 80$.
Gain $\% = \dfrac{80}{400} \times 100 = 20\%$.
IIFT Profit and Loss — practice questions
Explore 80 free Profit and Loss questions in IIFT Quantitative Aptitude. Open each question or exercise to read its content, reference answers and available explanation.
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An item is bought for ₹400 and sold for ₹480. Find the gain percent.Read the answer and worked solution →A shopkeeper sells an item at a profit of $25\%$. If the cost price is ₹$240$, find the selling price.Read the answer and worked solution →A trader sold an article for ₹$828$ at a loss of $8\%$. At what price should he sell it to gain $12\%$?Read the answer and worked solution →By selling $33$ metres of cloth a man gains the cost price of $11$ metres of cloth. Find his gain percent.Read the answer and worked solution →A dishonest dealer claims to sell his goods at cost price but uses a weight of $950$ g in place of $1$ kg. What is his gain percent?Read the answer and worked solution →A vendor bought a cycle for ₹2,500 and sold it for ₹3,000. What is his profit percentage?Read the answer and worked solution →A bookstore wants a 30% profit on a book that cost ₹500. At what price should the book be sold?Read the answer and worked solution →A vendor sells an item at ₹880 making a 10% loss. What was the cost price?Read the answer and worked solution →A shopkeeper marks goods 40% above cost and then offers a 10% discount. His profit percentage is:Read the answer and worked solution →If the cost price of 12 articles equals the selling price of 10 articles, the profit percentage is:Read the answer and worked solution →A mall offers '25% off + extra 20% off'. What is the single discount equivalent?Read the answer and worked solution →A vendor sells two pens at the same price. On one he makes 20% profit, on the other he makes 20% loss. His net result is:Read the answer and worked solution →A book costs ₹400 and is marked at ₹500. What is the maximum discount the seller can offer while still breaking even (no loss)?Read the answer and worked solution →A vendor mixes 20 kg of dal at ₹60/kg with 30 kg at ₹80/kg. He sells the mixture at ₹85/kg. His profit percentage is:Read the answer and worked solution →GMAT · Quantitativeaptitude · Quant — Profit/Loss PairRead the answer and worked solution →Complete the definition of discountRead the answer and worked solution →Discount worked outRead the answer and worked solution →Which price does this belong to?Read the answer and worked solution →True or false: overhead expensesRead the answer and worked solution →Complete the sales tax ruleRead the answer and worked solution →True or false: tax, VAT and GSTRead the answer and worked solution →Added on top, or already inside the price?Read the answer and worked solution →Order the steps: find the bill amount after taxRead the answer and worked solution →Simple interest or compound interest?Read the answer and worked solution →Simple interest worked outRead the answer and worked solution →True or false: interestRead the answer and worked solution →Assertion and reasonRead the answer and worked solution →Match each term to what it meansRead the answer and worked solution →Tap everything that goes into the cost priceRead the answer and worked solution →Two are true, one is notRead the answer and worked solution →
Worked practice questions
A shopkeeper sells an item at a profit of $25\%$. If the cost price is ₹$240$, find the selling price.
- ₹$260$
- ₹$275$
- ₹$290$
- ₹$300$
Show answer and solution
Correct answer: D. ₹$300$
SP $= \dfrac{(100 + \text{Gain}\%)}{100} \times \text{CP} = \dfrac{125}{100} \times 240 = ₹300$.
A trader sold an article for ₹$828$ at a loss of $8\%$. At what price should he sell it to gain $12\%$?
- ₹$1008$
- ₹$990$
- ₹$1020$
- ₹$950$
Show answer and solution
Correct answer: A. ₹$1008$
First recover CP from the loss-side: $\text{CP} = \dfrac{100 \times \text{SP}}{100 - \text{Loss}\%} = \dfrac{100 \times 828}{92} = ₹900$.
Then apply gain side: SP $= \dfrac{(100 + 12)}{100} \times 900 = ₹1008$.
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