Discount and MP MCQ Quiz - Objective Question with Answer for Discount and MP - Download Free PDF

Given:

Successive discounts: 10%, 20%, and 30%

Formula used:

Equivalent discount = 1 - (1 - d₁) × (1 - d₂) × (1 - d₃)

Where d₁, d₂, and d₃ are successive discounts expressed as decimals.

Calculations:

Equivalent discount = 1 - (1 - 0.10) × (1 - 0.20) × (1 - 0.30)

⇒ Equivalent discount = 1 - (0.90 × 0.80 × 0.70)

⇒ Equivalent discount = 1 - 0.504

⇒ Equivalent discount = 0.496

∴ The correct answer is option (2).

Given:

Original Price = ₹500

Single Discount = 40%

Successive Discounts = 36% and 4%

Formula used:

Single Discount Price = Original Price × (1 - Discount/100)

Successive Discount Price = Original Price × (1 - First Discount/100) × (1 - Second Discount/100)

Difference = Single Discount Price - Successive Discount Price

Calculation:

Single Discount Price = 500 × (1 - 40/100)

⇒ Single Discount Price = 500 × 0.6 = ₹300

Successive Discount Price = 500 × (1 - 36/100) × (1 - 4/100)

⇒ Successive Discount Price = 500 × 0.64 × 0.96

⇒ Successive Discount Price = ₹307.20

Difference = ₹300 - ₹307.20

⇒ Difference = ₹7.20

∴ The correct answer is option (2).

Given:

Cost Price (CP) = ₹620

Marked Price (MP) is 25% above CP.

Discount = 15%

Formula used:

MP = CP × \(\frac{100}{100 - \text{Discount %}}\)

Selling Price (SP) = MP × \(\frac{100 - \text{Discount %}}{100}\)

Profit % = \(\frac{\text{SP - CP}}{\text{CP}} \times 100\)

Calculations:

MP = ₹620 × \(\frac{100}{100 - 25}\)

⇒ MP = ₹620 × \(\frac{100}{75}\)

⇒ MP = ₹826.67

SP = MP × \(\frac{100 - 15}{100}\)

⇒ SP = ₹826.67 × \(\frac{85}{100}\)

⇒ SP = ₹702.67

Profit % = \(\frac{\text{SP - CP}}{\text{CP}} \times 100\)

⇒ Profit % = \(\frac{702.67 - 620}{620} \times 100\)

⇒ Profit % = \(\frac{82.67}{620} \times 100\)

⇒ Profit % = \(13\frac{1}{3}\)%

∴ The correct answer is option (2).

Given:

Original price of the item (P) = ₹375 (excluding tax)

Tax rate = 12%

Discount rate = 15%

Formula used:

Price after tax = Original price × (1 + Tax rate)

Discount amount = Price after tax × Discount rate

Selling price = Price after tax - Discount amount

Calculations:

Price after tax = ₹375 × (1 + 12%)

⇒ Price after tax = ₹375 × (1 + 0.12)

⇒ Price after tax = ₹375 × 1.12

⇒ Price after tax = ₹420

Discount amount = 15% of ₹420

⇒ Discount amount = 0.15 × 420

⇒ Discount amount = ₹63

Selling price = Price after tax - Discount amount

⇒ Selling price = ₹420 - ₹63

⇒ Selling price = ₹357

∴ The correct answer is option 3.

Given:

a = 25² − 125 = 625 − 125 = ₹500

Cost Price (CP) = ₹a = ₹500

Selling Price (SP) = ₹2a = ₹1000

Marked Price (MP) = a + 700 = 500 + 700 = ₹1200

Formula used:

Discount = MP − SP

Profit = SP − CP

New values:

New CP = 500 + 100 = ₹600

New SP = 1000 + 100 = ₹1100

New MP = ₹1200 (unchanged)

Calculations:

New Discount = 1200 − 1100 = ₹100

New Profit = 1100 − 600 = ₹500

Difference = 500 − 100 = ₹400

∴ The required difference between new discount and new profit is ₹400.

Given:

Profit = 25 Percent

Discount = 15 Percent

Formula:

MP/CP = (100 + Profit %)/(100 – Discount %)

MP = Printed Price

CP = Cost Price

Calculation:

We know that –

MP/CP = (100 + Profit %)/(100 – Discount %)   ………. (1)

Put all given values in equation (1) then we gets

MP/CP = (100 + 25)/(100 – 15)

⇒ 125/85

⇒ 25/17

Given:

Two discounts = 40% and 20%

Formula:

Two discounts a% and b%

Total discount = \((a +b)- \frac{ab}{100}\)

Discount amount = (marked price) × (discount %)/100

Calculation:

Single discount percentage = \((40 +20)- \frac{40× 20}{100}\) = 52%

⇒ 52 = 988/marked price × 100

⇒ Marked price = 1900

∴ Marked price of an article is Rs.1900.

Alternate MethodLet the MP be x.

x - [x × (100 - 40)/100 × (100 - 20)/100] = 988

⇒ x - [x × (60/100) × (80/100)] = 988

⇒ x - x × (3/5) × (4/5) = 988

⇒ 13x/25 = 988

⇒ x = (988 × 25)/13

⇒ x = 1900

∴ Marked price of an article is Rs.1900.

Given:

A grocery shop is offering a 10% discount on the purchase of Rs.500 and above. A 5% discount is given on the purchase of value above Rs.250 but below Rs.500. A discount of an additional 1% is given if payment is made instantly in cash. 

He bought 25 packets of biscuits and one packet is priced at Rs.30.

Concept used:

1. Final discount percentage after two successive discounts of A% and B% = \((A + B - {AB \over 100})\%\)

2. Selling price = Marked Price × (1 - Discount%)

Calculation:

Total billed price = 25 × 30 = Rs. 750

Since he paid in cash, he would get two consecutive discounts of 10% and 1%.

So, final discounts = 10 + 1 - (10 × 1)/100 = 10.9%

Now, he would have to pay = 750 × (1 - 10.9%) = Rs. 668.25

∴ He would have to pay Rs. 668.25.

Given:

Mark up percentage on goods = 30%

Discount Percentage = 10%

Formulas used:

Selling Price = Cost Price + Profit

Profit percent = Profit/Cost Price × 100

Discount = Marked Price - Selling Price

Discount percent = Discount/Marked Price × 100 

Calculation:

Let the cost price be = 100a 

Marked price = 100a + 100a × 30/100 = 130a 

Selling price after discount = 130a - 130a × 10/100 

⇒ 117a 

Selling price for 6.5% more profit = 117a + 100a × 6.5/100 

⇒ 117a + 6.5a = 123.5a 

∴ New Discount percent = (130a -123.5a)/130 × 100 

⇒ 5%

Shortcut Trick 

Given:

The marked price of the article = ₹2,400

Discount allowed = 40%

Profit made = 20%

Formula used:

Selling price = Marked price(MP) - Discount allowed

Profit = Selling price(SP) - Cost price(CP)

Calculation:

According to question

Let MP be 100x

Discount= 40%

Selling Price = 100x - 40x = 60x

From this SP = 60x,  Still makes profit = 20%

So, CP = 60x ÷ 120 × 100 = 50x

CP = 2400 ÷ 100 × 50 = 1200

∴ Cost price is 1200.

Given:

Riya could not decide between discount of 30% or two successive discounts of 25% and 5%, both given on shopping of ₹3,840. 

Concept used:

1. Final discount percentage after two successive discounts of A% and B% = \((A + B - {AB \over 100})\%\)

2. Discount = Marked Price × Discount%

Calculation:

Final discount% for two successive discounts of 25% and 5% = \(25 + 5 - \frac {25 × 5}{100}\) = 28.75%

Difference between discount% = 30 - 28.75 = 1.25%

Now, the difference between the discount = 3840 × 1.25% = ₹48

∴ The difference between both the discounts is ₹48.

Given:

The difference between the two selling price is Rs.3630

Two different discounts are 8% and 10% respectively

Formulae Used:

If the MP of an article is x, and discount is d%; then :

SP = [(100 - d)/100] × MP

Profit = SP - CP

Calculation:

Let the marked price is Rs. x

⇒ 10% of x – 8% of x = 3630

⇒ 2x/100 = 3630

⇒ x = Rs.1,81,500

Marked price is Rs.1,81,500

According to question

Cost price = Marked price – 16,500

= Rs.1,81,500 – Rs.16,500

= Rs.1,65,000

Shortcut Trick

(10 - 8)% = 2% of marked price = Rs.3,630

⇒ 1% of marked price = 3,630/2 = Rs.1,815

⇒ 100% of marked price = Rs.1,815 × 100 = Rs.1,81,500

∴ CP = Rs.1,81,500 – Rs.16,500

= Rs.1,65,000

Given:

Discount = 20%

Marked Price = Rs. 72000

Loss = 10%

New Gain = Rs. 440

Concept Used:

MP/CP = (100 - Loss%)/(100 - Discount%)

Selling Price = CP + Profit

Calculation:

MP/CP = (100 - Loss%)/(100 - Discount%)

72000/CP = (100 - 10)/(100 - 20)

72000/CP = 90/80

CP = 72000 × 80/90

CP = Rs. 64000

Now, the dealer wants to gain Rs. 440 on the article. So the new selling price (SP) would be:

SP = CP + Gain = 64000 + 440 = Rs. 64,440

To find the discount,

Discount = (Marked Price - SP)/Marked Price × 100

Discount = (72000 - 64440)/72000 × 100

Discount = 10.5%

Therefore, he should allow a discount of 10.5% on the marked price to gain Rs. 440 on the article.

Formula used

Single equivalent increase = x + y + [(x × y)/100]

Single equivalent decrease = x + y - [(x × y)/100] 

Calculation

Single equivalent increase of 30% each = 30 + 30 + [(30 × 30)/100]

= 30 + 30 + 9 = 69%

Single equivalent decrease of 30% each = 30 + 30 - [(30 × 30)/100]

= 51%

Required percentage = [(69 - 51)/51] × 100

= 18/51 × 100 = 35.29%

The answer is 35.29%

Given:

A shopkeeper makes a net profit of 44% on selling an article at successive discounts of 10% and 20%. 

Concept used:

1. Selling Price = Marked Price × (1 - Discount%)

2. Selling Price = Cost Price × (1 + Gain%)

Calculation:

Final discount% = \(10 + 20 - \frac {10 × 20}{100}\) = 28%

Let the marked and cost price be  = \(10 + 20 - \frac {10 × 20}{100}\) = 28% respectively.

​According to the question,

MP(1 - 28%) = CP(1 + 44%)

⇒ 0.72 × MP = 1.44 × CP

⇒ MP = 2CP

If a 15% discount is allowed then the selling price

⇒ MP(1 - 15%)

⇒ 0.85MP

⇒ 0.85 × 2CP = 1.7CP

Now, profit% = \(\frac {1.7CP - CP}{CP} × 100\%\) = 70%

∴ The net profit is 70%.

Shortcut Trick

Final discount% = \(10 + 20 - \frac {10 × 20}{100}\) = 28%

So, MP : SP = 100 : 72 

Here, shopkeeper makes a net profit of 44%

So, CP : SP = 100 : 144

Now, CP : SP : MP = 100 : 144 : 200

Now, 15% discount given then SP = 200 × 85/100 = 170

So, profit% is 70/100 × 100 = 70%