Profit & Loss Quiz | Quantitative Aptitude MCQ Practice for IBPS AFO 2026

1

A discount dealer professes to sell his goods at cost price but uses a weight of 960 gms instead of a Kg weight. Find his gain%?

Solution & Explanation The dealer uses a false weight of 960g instead of 1000g (1 Kg). The error is 1000g - 960g = 40g. The gain percentage is calculated as (Error / (True weight - Error)) * 100 = (40 / (1000 - 40)) * 100 = (40 / 960) * 100 = (1/24) * 100 = 25/6 %.

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2

The selling price of the Watch is Rs.920. The ratio of the marked price to the cost price of the watch is 23:20 and the ratio of the marked price to the cost price of the Pen is 11:10. If the ratio of the cost price of the watch to Pen is 2:1 and the discount offered for the watch is 20%, then what is the marked price of Pen?

Solution & Explanation Watch MP = 920/0.8 = 1150. Watch CP = 1150×20/23 = 1000. Pen CP = 500. Pen MP = 500×11/10 = 550.

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3

A trader wants to earn 16 2/3 % profit after allowing a discount of 25% find by how much percent he has to increase his cost price to make it marked price?(approximate)

Solution & Explanation CP=6, SP=7. MP = 7/0.75 = 28/3. Markup% = (28/3 - 6)/6 = 10/18 = 55.55% ≈ 56%.

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4

A shopkeeper sold an article of marked price Rs. 2200 after giving two successive discounts of x% and y%. If the shopkeeper sold the article at Rs. 1881 and the second discount percentage is twice the first discount percentage, then find the value of x.

Solution & Explanation 2200(1−x/100)(1−2x/100)=1881. Let u=x/100: (1−u)(1−2u)=0.855 ⇒ 2u²−3u+0.145=0. Solving, u=0.05 (the other root, u=1.45, is invalid). So x=5%.

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5

If a book was sold at 20% profit and the cost price & selling price of the book is increased by Rs.40 and Rs.96 respectively. The new profit percentage is 33.33%. Find the original cost price of book?

Solution & Explanation SP=1.2x. (1.2x+96)/(x+40) = 4/3. 3.6x+288 = 4x+160 → 0.4x=128 → x=320.

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Profit & Loss Quiz for IBPS AFO 2026

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