The post is about Online Trade Discounts Quiz with answers. A trade discount, usually expressed in percent, indicates the part that is to be deducted from the list price. Let us start with the Trade Discounts Quiz now.
Multiple Choice Questions about Trade Discounts: Aptitude Test with Answers
Online MCQs Trade Discounts Quiz with Answers
- The list price of an article is Rs 20.00. There is a discount of 5%. What is the selling price?
- Find the selling price of an article listed at Rs 10.00 on which there are discounts of 20% and 10%.
- Find the single equivalent discount for 20%, 25%, and 10%.
- An article lists it at Rs 750.0. With discounts of 20%, 25%, and 10%, what is the selling price of this article?
- Mr. Rehman ordered a car worth Rs 600,000 and was given a discount. Given that he paid Rs. 570,000 for his new car. Calculate the percentage discount he received.
- A reduction of 25% in the price of rice will enable a trader to buy 50 KG more for $s 450. What was the price per Kg before the reduction?
- If 10% is deducted from a bill, Rs 585.00 remains to be paid. How much is the bill?
- The price of an article is decreased by 10%. To restore it to its former value, the new price must be increased by
- At a special sale, 5 tickets can be purchased for the price of 3 tickets. If 5 tickets are purchased at this sale, the amount saved will be what percentage of the original price of 5 tickets?
- If the price of the dress is now Rs 1800 and it has undergone successive reductions of 20% and 10%, what was its price originally?
- A Rs. 400 coat sells for how much after successive discounts of 10% and 5%?
- By giving a discount of 10% on the marked price of Rs 1000 of a sofa set, the dealer gains 10%. The cost price of the sofa set is?
- A reduction of 40% in the price of tea enables a man to obtain 2 KG more for Rs 80. What is the reduced price per KG?
- A reduction of 20% in the price of sugar enables a purchaser to get 4 KG more for Rs 80. The original price of 1 KG of sugar was?
- A storekeeper has merchandise valued at Rs 2340. After cutting prices, his merchandise costs 82% of its original value. How much does the merchandise now cost?
Finding the Selling Price
To find the selling price when given the list price and the trade discount:
- Multiply the list price by the percent of the discount to find the discount in terms of money.
- Subtract the discount from the list price.
Series of Discounts
There may be more than one discount to be deducted from the list price, these are called a discount series. to find the selling price when given the list price and a discount series:
- Multiply the list price by the first percent of the discount
- subtract this product from the list price
- Multiply the difference by the second discount
- Subtract this product from the difference
- Continue the same procedure if there are more discounts.
Instead of deducting each discount individually, it is often more practical to find the single equivalent discount first and then deduct. It does not matter in which order the discounts are taken.
The single equivalent discount may be found by assuming a list price of 100% leaving all discounts in % form.
- Subtract the first discount from 100% giving the net cost factor (NCF) had there been only one discount.
- Multiply the NCF by the 2nd discount. Subtract the product from the NCF giving a 2nd NCF that reflects both discounts
- If there is a 3rd discount, multiply the 2nd NCF by it and subtract the product from the 2nd NCF giving a 3rd NCF that reflects all three discounts.
- If there are more discounts, repeat the process.
- Subtract the final NCF from 100% to find the single equivalent discount.
