Start learning →

IIFT Profit and Loss — practice questions — page 3

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.

Practise Profit and Loss with Quill →

Profit and Loss questions and exercises with answers

Showing questions 61–80 of 80.

A sale price should always be:Read the answer and worked solution →Elise buys a dress discounted 35% off an original price of $140. The discount is:Read the answer and worked solution →After a $49 discount on a $140 dress, the sale price is:Read the answer and worked solution →Jeannette buys a $31 swimsuit at a sale price of $13.95. The amount of discount is:Read the answer and worked solution →With a $17.05 discount on a $31 swimsuit, the discount rate is:Read the answer and worked solution →The price a retailer pays for an item is called the:Read the answer and worked solution →The list price should always be:Read the answer and worked solution →Adam buys a photograph at $250 and marks it up 40%. The mark-up is:Read the answer and worked solution →With a $100 mark-up on a $250 photograph, the list price is:Read the answer and worked solution →Jim's music store buys a guitar at $1,200 and marks it up 50%. The mark-up is:Read the answer and worked solution →Sergio buys a belt discounted 40% from an original price of $29. The discount is:Read the answer and worked solution →Oscar buys a barbecue discounted 65% from an original price of $395. The sale price is:Read the answer and worked solution →Catch the price cuttersRead the answer and worked solution →Pop the money wordsRead the answer and worked solution →Run the price numbersRead the answer and worked solution →Slice the percent wordsRead the answer and worked solution →Discount or mark-upRead the answer and worked solution →Sort discount, mark-up and interestRead the answer and worked solution →Type the numberRead the answer and worked solution →Percent bingoRead the answer and worked solution →

Worked practice questions

A sale price should always be:

  1. Less than the original
  2. More than the original
  3. Equal to the original
  4. Twice the original
Show answer and solution

Correct answer: A. Less than the original

1. A discount cuts the price. 2. So the sale price is lower. 3. Check this before answering. _Source: OpenStax Elementary Algebra 2e, Chapter 3, Solve Percent Applications (CC BY 4.0)._

Open this question →

Elise buys a dress discounted 35% off an original price of $140. The discount is:

  1. $105
  2. $49
  3. $91
  4. $35
Show answer and solution

Correct answer: B. $49

1. Multiply 140 by 0.35. 2. That gives 49. 3. The sale price is then 91. _Source: OpenStax Elementary Algebra 2e, Chapter 3, Solve Percent Applications (CC BY 4.0)._

Open this question →

After a $49 discount on a $140 dress, the sale price is:

  1. $105
  2. $189
  3. $91
  4. $49
Show answer and solution

Correct answer: C. $91

1. Subtract the discount from the original. 2. 140 minus 49 is 91. 3. The sale price is lower, as expected. _Source: OpenStax Elementary Algebra 2e, Chapter 3, Solve Percent Applications (CC BY 4.0)._

Open this question →

How to practise

  1. Choose a Profit and Loss question and try to work out your answer.
  2. Open the question to check the correct answer and read its worked solution.
  3. Continue in the app for bite-sized lessons, explanations and review with Quill. You can start without creating an account.

More Quantitative Aptitude topics

Quantitative AptitudeNumber SystemAlgebraGeometry & MensurationRatio and ProportionPercentagesSimple InterestAverages