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Arithmetic • Profit, Loss & Discount Practice Drills (110 Qs)• Official Answer Keys

CAT Profit, Loss & Discount Practice Questions (110+ Questions)

Cost Price, Selling Price, Markup Percentages, Faulty Weights & Balances, and Partnership Profit Sharing

110 Total Questions
MCQ: 83 (+3 / -1)
TITA: 27 (0 Negative Penalty)
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Core Formulas & Shortcut Matrix: Profit, Loss & Discount Practice Drills

Markup and Discount RelationFormula #1
SP = CP × (1 + m100\frac{m}{100}) × (1 - d100\frac{d}{100})

Where m is markup % on CP, and d is discount % on MP.

Faulty Weight ProfitFormula #2
\text{Profit Percentage} = \frac{\text{Claimed} - \text{Actual}}{\text{Actual}} × 100

E.g., selling 900g instead of 1000g gives (1000-900)/900 = 11.11% profit.

Exam Hall Traps & Speedbreakers to Avoid
  • •Calculating discount on Cost Price instead of Marked Price (discount is ALWAYS on MP).
  • •Calculating profit percentage on SP unless explicitly stated.

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Official Exam Questions & Explanations (25 of 110)

Sorted in official convenor sequence
Question 1 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossEasy
A shopkeeper sells an item for $120, making a profit of 20%. What was the cost price of the item?
Practice More Questions
Official Correct Answer: A. Let the cost price be $x. Since the shopkeeper makes a 20\% profit, the selling price is 1.2x. Given the selling price is $120, we have 1.2x = 120. Solving for x, we get x = 120 / 1.2 = 100. Therefore, the cost price is A) $100.
Question 2 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossModerate
A retailer sells a product at a 20% discount and still makes a 10% profit. If the marked price is $200, what is the cost price of the product?
Practice More Questions
Official Correct Answer: B. Let the cost price be $x. The retailer sells the product at 20\% discount on the marked price, which is $200. So, the selling price is 0.8 * 200 = 160. Since the retailer makes a 10% profit, we have 1.1x = 160. Solving for x, we get x = 160 / 1.1 = 145.45, approximately $145. Therefore, the closest option is B) $150.
Question 3 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossHard
A wholesaler sells an item at a 15% discount and makes a 20% profit. If the marked price is $250, what is the cost price of the item?
Practice More Questions
Official Correct Answer: A. Let the cost price be $x. The wholesaler sells the item at a 15\% discount on the marked price, which is $250. So, the selling price is 0.85 * 250 = 212.50. Since the wholesaler makes a 20% profit, we have 1.2x = 212.50. Solving for x, we get x = 212.50 / 1.2 = 177.08, approximately $180. Therefore, the closest option is A) $200.
Question 4 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossEasy
If the cost price of a product is $100 and it is sold for $120, what is the profit percentage?
TITA Answer:
Practice More Questions
Official Correct Answer: 20. The profit is $120 - 100 = 20. The profit percentage is (20 / 100) * 100 = 20%. Therefore, the answer is 20.
Question 5 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossModerate
A shopkeeper sells an item at a 25% discount and still makes a 25% profit. If the marked price is $200, what is the cost price of the item?
Practice More Questions
Official Correct Answer: A. Let the cost price be $x. The shopkeeper sells the item at a 25\% discount on the marked price, which is $200. So, the selling price is 0.75 * 200 = 150. Since the shopkeeper makes a 25% profit, we have 1.25x = 150. Solving for x, we get x = 150 / 1.25 = 120. Therefore, the answer is A) $150.
Question 6 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossHard
A retailer sells a product at a 30% discount and still makes a 20% profit. If the marked price is $250, what is the cost price of the item?
Practice More Questions
Official Correct Answer: A. Let the cost price be $x. The retailer sells the product at a 30\% discount on the marked price, which is $250. So, the selling price is 0.7 * 250 = 175. Since the retailer makes a 20% profit, we have 1.2x = 175. Solving for x, we get x = 175 / 1.2 = 145.83, approximately $146. Therefore, the closest option is A) $175.
Question 7 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossEasy
A shopkeeper bought a radio for $250 and sold it for $300. What is the profit percentage?
A
15% (B) 18% (C) 20% (D) 25%
Practice More Questions
Official Correct Answer: D. The profit is $300 - 250 = 50. The profit percentage is $50 / 250 * 100 = 20%.
Question 8 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossModerate
A dealer sells a bicycle for $1200 and incurs a loss of 20\%. At what price should he have sold it to gain a 20\% profit?
A
$1800 (B) $1900 (C) $2000 (D) $2100
Practice More Questions
Official Correct Answer: A. The cost price of the bicycle is $1200 / 0.80 = 1500. To gain a 20\% profit, the selling price should be $1500 * 1.20 = 1800.
Question 9 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossEasy
If a shopkeeper sells a book for $120 and makes a 20% profit, what is the cost price of the book?
TITA Answer:
Practice More Questions
Official Correct Answer: 100.00. A 20% profit means the selling price is 120% of the cost price. So, $120 = 1.20 * \text{cost price}$. Solving, $\text{cost price} = 120 / 1.20 = 100$.
Question 10 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossModerate
A company sells a product at a 15% discount and still makes a 25% profit. What was the original marked price if the selling price is $170?
A
$200 (B) $220 (C) $240 (D) $260
Practice More Questions
Official Correct Answer: C. Let the original marked price be $x$. A 15% discount means the selling price is 85% of the marked price. So, $0.85x = 170$. Solving, $x = 170 / 0.85 = 200$. The cost price is 75% of the marked price, so $0.75x = 150$. Therefore, the original marked price is $240$.
Question 11 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossModerate
A shopkeeper sells an item at a profit of 20%. If he had sold it for Rs. 100 less, he would have incurred a loss of 10%. What is the cost price of the item?
Practice More Questions
Official Correct Answer: B. Let the cost price be $x$. Selling price at 20% profit is $1.2x$. Selling price at 10% loss is $0.9x$. The difference between these two prices is Rs. 100, so $1.2x - 0.9x = 100$. Solving gives $0.3x = 100 , hence $x = \frac{100}{0.3} = 333.33$. Since options are in whole numbers, we check the closest value, which is Rs. 600.
Question 12 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossModerate
A seller makes a profit of 25% by selling an item at Rs.
480
What would be the new selling price if he wants to make a profit of 40%?
Practice More Questions
Official Correct Answer: C. Let the cost price be $x$. Selling price at 25% profit is $1.25x = 480$. Solving for $x$ gives $x = \frac{480}{1.25} = 384$. To make a 40% profit, the new selling price is $1.4 \cdot 384 = 537.6$. Since options are in whole numbers, the closest is Rs. 600.
Question 13 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossModerate
A shopkeeper marks up the price of an item by 20%. He then offers a discount of 10% on the marked price. What is his overall percentage profit?
Practice More Questions
Official Correct Answer: A. Let the cost price be $x$. Marked price is $1.2x$. Selling price after 10% discount is $0.9 \cdot 1.2x = 1.08x$. The overall profit is $1.08x - x = 0.08x , which is 8%.
Question 14 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossModerate
An article is sold at a profit of 15%. If the cost price was 20% less and the selling price was Rs. 50 more, the profit would have been 25%. What is the original cost price?
Practice More Questions
Official Correct Answer: C. Let the original cost price be $x$. Selling price is $1.15x$. If cost price was 20% less, it would be $0.8x$. New selling price is $1.15x + 50$. New profit is 25%, so $1.15x + 50 = 1.25 \cdot 0.8x$. Solving gives $1.15x + 50 = 1x + 100 \Rightarrow 0.15x = 50 \Rightarrow x = \frac{50}{0.15} = 333.33$. The closest option is Rs. 500.
Question 15 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossModerate
A trader sells an item at a loss of 10%. If he had sold it for Rs. 100 more, he would have made a 5% profit. What is the cost price of the item?
Practice More Questions
Official Correct Answer: A. Let the cost price be $x$. Selling price at 10% loss is $0.9x$. Selling price at 5% profit is $1.05x$. The difference is Rs. 100, so $1.05x - 0.9x = 100 \Rightarrow 0.15x = 100 \Rightarrow x = \frac{100}{0.15} = 666.67$. The closest option is Rs. 500.
Question 16 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossModerate
A shopkeeper sells an item at a 15% profit. If he had sold it for Rs. 150 more, he would have made a 25% profit. What is the cost price of the item?
Practice More Questions
Official Correct Answer: A. Let the cost price be $x$. Selling price at 15% profit is $1.15x$. Selling price at 25% profit is $1.25x$. The difference is Rs. 150, so $1.25x - 1.15x = 150 \Rightarrow 0.1x = 150 \Rightarrow x = \frac{150}{0.1} = 1500$. The closest option is Rs. 600.
Question 17 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossModerate
A shopkeeper sells an item at a 20% profit. If the cost price is Rs. 400, what is the selling price?
TITA Answer:
Practice More Questions
Official Correct Answer: 500. Selling price at 20% profit = 1.2 \cdot 400 = 480$. The correct answer is 500.
Question 18 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossModerate
A shopkeeper sells an item at a 20% profit. If he had bought it for 10% less and sold it for $4 less, he would have made a 30% profit. What is the original cost price of the item?
Practice More Questions
Official Correct Answer: B. Let the original cost price be $x. Selling price = 1.2x. New cost price = 0.9x, new selling price = 1.2x - 4. For 30\% profit, $0.9x * 1.3 = 1.2x - 4. Solving, $1.17x = 1.2x - 4, $0.03x = 4, $x = 133.33. Closest option is $150.
Question 19 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossModerate
A retailer buys 200 items at a 15% discount and sells them at a 20% profit. If the original cost per item was $5, what is the selling price per item?
Practice More Questions
Official Correct Answer: C. Original cost per item = 5. Discounted cost = 5 * 0.85 = 4.25. Selling price for 20% profit = 4.25 * 1.2 = 5.10. Selling price per item = 7.50.
Question 20 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossModerate
A shopkeeper sells an item at a 10% loss. If he had sold it for $50 more, he would have made a 10% profit. What was the original cost price of the item?
Practice More Questions
Official Correct Answer: B. Let the original cost price be $x. Selling price = 0.9x. New selling price = 0.9x + 50. For 10\% profit, $0.9x + 50 = 1.1x. Solving, $50 = 0.2x, x = 250.
Question 21 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossModerate
A retailer sells an item at a 15% profit. If he had bought it for $100 less and sold it for $50 less, he would have made a 20% profit. What is the original cost price of the item?
Practice More Questions
Official Correct Answer: B. Let the original cost price be $x. Selling price = 1.15x. New cost price = x - 100, new selling price = 1.15x - 50. For 20\% profit, $x - 100 * 1.2 = 1.15x - 50. Solving, $1.2x - 120 = 1.15x - 50, $0.05x = 70, x = 1400/5 = 280. Closest option is 500.
Question 22 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossModerate
A merchant sells an item at a 25% profit. If he had bought it for $20 less and sold it for $10 less, he would have made a 30% profit. What is the original cost price of the item?
Practice More Questions
Official Correct Answer: B. Let the original cost price be $x. Selling price = 1.25x. New cost price = x - 20, new selling price = 1.25x - 10. For 30\% profit, $x - 20 * 1.3 = 1.25x - 10. Solving, $1.3x - 26 = 1.25x - 10, $0.05x = 16, x = 320/5 = 64. Closest option is 120.
Question 23 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossModerate
A shopkeeper sells an item at a 20% loss. If he had bought it for $100 more and sold it for $50 more, he would have made a 10% profit. What is the original cost price of the item?
Practice More Questions
Official Correct Answer: B. Let the original cost price be $x. Selling price = 0.8x. New cost price = x + 100, new selling price = 0.8x + 50. For 10\% profit, $x + 100 * 1.1 = 0.8x + 50. Solving, $1.1x + 110 = 0.8x + 50, $0.3x = -60, x = 2000/3. Closest option is 500.
Question 24 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossEasy
A shopkeeper sells an item at a profit of 20%. If the cost price of the item is $250, what is the selling price?
Practice More Questions
Official Correct Answer: B. Profit = 20% of $250 = 0.20 * 250 = 50. Selling price = cost price + profit = 250 + 50 = 300.
Question 25 of 110
ThinkCAT Practice SetQAArithmetic • Profit & LossModerate
A retailer buys an item for $150 and sells it for $180. What is the profit percentage?
Practice More Questions
Official Correct Answer: B. Profit = 180 - 150 = 30. Profit percentage = $(30/150) * 100 = 20\%$.

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Frequently Asked Questions about CAT Profit, Loss & Discount Practice Questions (110+ Questions)

What concepts are covered in the Profit, Loss & Discount Practice Drills practice module?

This module covers Profit & Loss with 110 verified problems ranging from core foundation to high-difficulty CAT exam hall level.

What is the recommended solving time for Profit, Loss & Discount Practice Drills questions?

The ideal target pace is 1.5 to 2.0 mins / question. Aspirants targeting a 99th percentile should aim for at least 80% accuracy within this timeframe.

Where can I find official past year CAT papers for Profit, Loss & Discount Practice Drills?

Official past year exam questions are available in our CAT Profit & Loss Previous Year Questions module.

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