Discount – mcqpedia.in

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[Concept 1: Basic Discount %] The marked price of a bag is Rs 1200 and it is sold for Rs 900. What is the discount percentage?

Explanation: Book Formula: Discount = MP – SP. Here, Discount = 1200 – 900 = 300. Discount% = (Discount / MP) × 100% = (300 / 1200) × 100% = (1/4) × 100% = 25%. Note: Discount is always calculated on Marked Price (MP).

[Concept 1: Basic Discount %] A shirt is marked at Rs 800. After allowing a discount, it is sold for Rs 680. What is the discount percentage?

Explanation: Discount = MP – SP = 800 – 680 = 120. Discount% = (Discount / MP) × 100% = (120 / 800) × 100% = 15%.

[Concept 1: Basic Discount %] If the marked price of an article is Rs 1500 and a discount of 20% is given, what will be the selling price (SP)?

Rs 1200
Rs 1300
Rs 1250
Rs 1100

Explanation: Discount = 20% of MP = 20% of 1500 = (20/100) × 1500 = 300. Selling Price (SP) = MP – Discount = 1500 – 300 = Rs 1200.

[Concept 2: No Discount (MP = SP)] A shopkeeper marks his goods 40% above the cost price and offers no discount. What is his profit percentage?

40%
0%
20%
100%

Explanation: Book Concept: If the shopkeeper does not allow any discount, then MP = SP. Therefore, Mark-up% = Profit%. Since the mark-up is 40%, the profit is also 40%.

[Concept 2: No Discount (MP = SP)] An article costing Rs 500 is marked at Rs 650. If it is sold without any discount, what is the profit percentage?

Explanation: No discount means SP = MP = Rs 650. CP = Rs 500. Profit = 650 – 500 = 150. Profit% = (150 / 500) × 100% = 30%.

[Concept 2: No Discount (MP = SP)] A dealer marks an item 25% above its cost price. If he decides to sell it exactly at the marked price, what will be his profit percentage?

25%
20%
30%
Cannot be determined

Explanation: Concept: When Discount = 0, SP = MP. The markup percentage directly becomes the profit percentage. So, Profit% = 25%.

[Concept 3: CP / MP Ratio] A shopkeeper allows a 10% discount on the marked price and still makes a 20% profit. Find the ratio of Cost Price to Marked Price (CP:MP).

Explanation: Book Formula: CP / MP = (100 – Discount%) / (100 + Profit%). Here, D = 10, P = 20. CP / MP = (100 – 10) / (100 + 20) = 90 / 120 = 3/4. So, the ratio is 3:4.

[Concept 3: CP / MP Ratio] An item is sold at a 15% discount but yields a 19% profit. If the Cost Price (CP) is Rs 850, what is the Marked Price (MP)?

Rs 1190
Rs 1200
Rs 1150
Rs 1000

Explanation: Using the formula: CP / MP = (100 – D) / (100 + P). CP / MP = (100 – 15) / (100 + 19) = 85 / 119. We are given CP = 850. If 85 units = 850, then 1 unit = 10. Therefore, MP (119 units) = 119 × 10 = Rs 1190.

[Concept 3: CP / MP Ratio] The ratio of Cost Price to Marked Price of an article is 4:5. If a discount of 12% is given on the marked price, what is the profit percentage?

Explanation: Formula: CP / MP = (100 – D) / (100 + P). We have 4/5 = (100 – 12) / (100 + P). 4/5 = 88 / (100 + P). Cross-multiplying: 400 + 4P = 440. 4P = 40. P = 10%. Profit is 10%.

[Concept 4: Successive Discounts] What is the single equivalent discount for two successive discounts of 20% and 15%?

Explanation: Book Formula for 2 successive discounts (x% and y%): Net Discount = [x + y – (xy/100)]%. Here, [20 + 15 – (20×15/100)]% = [35 – 300/100]% = 35 – 3 = 32%.

[Concept 4: Successive Discounts] Find the single equivalent discount for three successive discounts of 10%, 20%, and 25%.

Explanation: Take the first two (10% and 20%): 10 + 20 – (200/100) = 30 – 2 = 28%. Now, combine this 28% with the third discount (25%): 28 + 25 – (28×25/100) = 53 – 700/100 = 53 – 7 = 46%. (You can also use the 3-variable formula from the book).

[Concept 4: Successive Discounts] A mall offers two successive discounts of 30% and 10% on a jacket. What is the net discount percentage offered?

Explanation: Using the net discount formula: [x + y – (xy/100)]%. Net Discount = [30 + 10 – (30×10)/100]% = 40 – 3 = 37%.

[Concept 5: Free Articles] A shop offers a scheme: “Buy 3, Get 1 Free”. What is the net discount percentage provided to the customer?

25%
33.33%
20%
30%

Explanation: Book Formula: If ‘y’ articles are free on purchasing ‘x’ articles, Discount% = [y / (x+y)] × 100. Here, Buy 3 (x), Get 1 free (y). Discount% = [1 / (3+1)] × 100 = (1/4) × 100 = 25%.

[Concept 5: Free Articles] If a customer gets 2 articles free on the purchase of 6 articles, what is the discount percentage?

25%
33.33%
20%
15%

Explanation: Using the formula: Discount% = [Free Articles / Total Articles given] × 100. Total articles = 6 (bought) + 2 (free) = 8. Discount% = (2 / 8) × 100 = (1/4) × 100 = 25%.

[Concept 5: Free Articles] A supermarket runs a “Buy 5, get 3 free” promotion. This is equivalent to what percentage of discount?

37.5%
60%
40%
33.33%

Explanation: Free articles (y) = 3. Bought articles (x) = 5. Total = 8. Discount% = [y / (x+y)] × 100 = (3 / 8) × 100. From the fraction chart in the book, 3/8 = 37.5%.

[Concept 6: Net Effect of Markup & Discount] A tradesman marks his goods 20% above the cost price and then gives a 10% discount on the marked price. What is his profit percentage?

Explanation: Book Formula for Net Effect (Successive): P% = [M – D – (M×D/100)]%. Here M = 20, D = 10. P% = 20 – 10 – (20×10)/100 = 10 – 2 = 8%.

[Concept 6: Net Effect of Markup & Discount] A shopkeeper marks up the price of an item by 50% and then offers a 30% discount to the customer. Find his profit or loss percentage.

5% Profit
5% Loss
10% Profit
20% Profit

Explanation: Formula: P% = [M – D – (M×D/100)]%. Here M = 50, D = 30. P% = 50 – 30 – (50×30)/100 = 20 – 15 = 5%. Since the result is positive, it is a 5% Profit.

[Concept 6: Net Effect of Markup & Discount] If a product is marked 25% above its cost price and a discount of 25% is given, what is the final result?

6.25% Loss
No Profit No Loss
6.25% Profit
5% Loss

Explanation: Formula: P% = [M – D – (M×D/100)]%. Here M = 25, D = 25. P% = 25 – 25 – (25×25)/100 = 0 – 625/100 = -6.25%. The negative sign signifies a loss of 6.25%.

[Concept 7: Finding Mark-up %] To gain a 20% profit after allowing a 20% discount on the marked price, by what percentage should the shopkeeper mark up the MP above the CP?

Explanation: Book Formula: Mark-up% = [(r + R) / (100 – r)] × 100% (where r is discount%, R is profit%). Mark-up% = [(20 + 20) / (100 – 20)] × 100 = (40 / 80) × 100 = (1/2) × 100 = 50%.

[Concept 7: Finding Mark-up %] A shopkeeper wants to earn a 12% profit even after giving a 16% discount. What should be his mark-up percentage?

33.33%
28%
25%
40%

Explanation: Formula: Mark-up% = [(Discount% + Profit%) / (100 – Discount%)] × 100%. Mark-up% = [(16 + 12) / (100 – 16)] × 100 = (28 / 84) × 100 = (1/3) × 100 = 33.33%.

[Concept 7: Finding Mark-up %] If giving a 10% discount on an item still leads to an 8% profit, what is the mark-up percentage above the cost price?

Explanation: Formula: Mark-up% = [(Discount% + Profit%) / (100 – Discount%)] × 100%. Mark-up% = [(10 + 8) / (100 – 10)] × 100 = (18 / 90) × 100 = (1/5) × 100 = 20%.