GMAT Practice Questions Answers  Profit & Loss
You may get one question from Profit, Loss and Discounts in the GMAT quant section. A relatively easy topic. The concepts tested include computing cost price, selling price, percentage profit, percentage discount and profit or loss made. A collection of GMAT practice questions from profit, loss and discounts is given below. Attempt these questions and check whether you have got the correct answer. If you have not go to the explanatory answer or the video explanations (wherever provided) to learn how to crack the question.
If the cost price of 20 articles is equal to the selling price of 25 articles, what is the % profit or % loss made by the merchant?
 25% loss
 25% profit
 20% loss
 20% profit
 5% profit
 Correct AnswerChoice (C).
The merchant makes a 20% loss. Correct answer  Explanatory Answer
 Percentage Profit
 Easy
Sam buys 10 apples for $1. At what price should he sell a dozen apples if he wishes to make a profit of 25%?
 $0.125
 $1.25
 $0.25
 $1.5
 $1.8
 Correct AnswerChoice (D).
Sam should sell a dozen apples at $1.5 . Correct answer  Explanatory Answer
 Selling Price
 Easy
By selling an article at 80% of its marked price, a merchant makes a loss of 12%. What will be the % profit made by the merchant if he sells the article at 95% of its marked price?
 5% profit
 1% loss
 10% profit
 5.5% profit
 4.5% profit
 Correct AnswerChoice (E).
The merchant will make a profit of 4.5% profit. Correct answer  Explanatory Answer
 Percentage Profit
 Medium
What is the maximum percentage discount that a merchant can offer on her Marked Price so that she ends up selling at no profit or loss, if she had initially marked her goods up by 50%?
 50%
 20%
 25%
 16.67%
 33.33%
 Correct AnswerChoice (E).
She should offer a maximum discount of 33.33% on the marked price of her goods. Correct answer  Explanatory Answer
 Percentage Discount
 Easy
A merchant who marked his goods up by 50% subsequently offered a discount of 20%. What is the percentage profit that the merchant made after offering the discount?
 30%
 125%
 25%
 20%
 16.66%
 Correct AnswerChoice (D).
The merchant made a profit of 20% by selling at discount. Correct answer  Explanatory Answer
 Percentage Discount
 Easy
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