Discount - Aptitude Questions and Answers

Discount Questions and Answers

Learn and practice the chapter "Discount" with these solved Aptitude Questions and Answers. Each question in the topic is accompanied by a clear and easy explanation, diagrams, formulae, shortcuts and tricks that help in understanding the concept.

Use of Discount Questions

The questions and examples given in this section will be useful to all the freshers, college students and engineering students preparing for placement tests or any competitive exam like MBA, CAT, MAT, SNAP, MHCET, XAT, NMAT, GATE, Bank exams - IBPS, SBI, RBI, RRB, SSB, SSC, UPSC etc.

Practice with this online test to crack your placements and entrance tests!
1. The marked price on an item was Rs 2000/- but the shopkeeper offered a double discount of 20% and 15%. How much did he finally sell the item for?

a. Rs. 640
b. Rs. 1300
c. Rs. 1360
d. Rs. 1600

Answer: c. Rs. 1360

Explanation:

First discount = 20%
∴ Price after First discount = 100-20% = 80% of M.P = 80% * 2000 = Rs. 1600
Second discount = 15%
∴ Price after Second discount = 100-15% = 85% of new price = 85% of 1600 = Rs. 1360/-
So, the item was finally sold for Rs. 1360/-


2. One shopkeeper keeper was offering two successive discounts of 15% and 10% on an item while the second one is offering flat 25% discount on the same item. Which shopkeeper should I buy the item from?

a. First Shopkeeper
b. Second Shopkeeper
c. Any of them; both are same
d. Data Insufficient

Answer: b. Second Shopkeeper

Explanation:

Tip:
Single equivalent of 2 discounts = ADD -MULTIPLY
100


ADD = 15 + 10 = 25
MULTIPLY=15 x 10= 1.5
100100
∴ Single equivalent = 25 - 1.5 = 23.5%
The single equivalent discount offered by first shopkeeper is 23.5%.
Second shopkeeper is offering it at 25%, which makes the item cheaper for the buyer.


3. Find the single equivalent discount of 10%, 15% and 20%.

a. 38.8%
b. 45%
c. 61.2%
d. None of the above

Answer: a. 38.8%

Explanation:

Approach 1:

Take Value = 100
For 1st discount of 10%, 1st value = (100-10)% of 100 = 90% of 100 = 90
For 2nd discount of 15%, 2nd value = (100-15)% of 90 = 85% of 90 = 76.5

For 3rd discount of 20%, Final value = (100-20)% of 76.5 =80x 76.5 = 61.2
100
So, Discount = 100 - 61.2 = 100 - 61.2 = 38.8%

Approach 2:

Tip:
Single equivalent of 3 discounts = (1 - MULTIPLY) x 100


100 - 10% = 90% =90; 100 - 15% = 85% =85;
100100
100 - 20% = 80% =80
100
MULTIPLY = 90% x 85% x 80% =90x85x80
100100100
∴ (1-MULTIPLY) x 100 = ( 1 -90x85x80) x 100 = 38.8% = Single equivalent
100100100


4. The cost price of the goods for a shopkeeper was X. He marked them at a 20% higher price than the Cost Price. Finally he sold the goods at 30% discount. Did he earn a profit or incur a loss? How much?

a. 5% Profit
b. 5.5% Profit
c. 10% Loss
d. 16% Loss

Answer: d. 16% Loss

Explanation:

Let CP = Rs. 100
Marked Price = 20% more than CP
∴ MP = Rs. 120
Discount = 30% on marked price
∴ SP = (100-30)% of MP

∴ SP =70x 120 = Rs. 84
100
Loss% =100-84x 100 = 16%
100


5. The marked price of a chair was Rs 12,800/-. The shopkeeper was offering it for a discount of 20% but on further bargaining agreed to offer a successive discount and finally sold the chair for Rs 9,216/- What was the second discount offered by him?

a. 5%
b. 10%
c. 20%
d. 25%

Answer: b. 10%

Explanation:

Price after 1st discount of 20% = (100-20)% = 80% of Marked Price

∴ Price =80x 12800 = Rs. 10,240
100
SP = (100-Discount) % of Price
∴ 9216 = (100-Discount) % x 10240
100-Discount= 9216-----------> Converting discount percent to normal fraction
10010240
∴ Discount = 10% = This is the percent of 2nd discount offered.