Profit & Loss
SSC GD Exam Preparation - Quantitative Aptitude
š¹ 1. Basic Terms
ā Cost Price (CP)
The price at which an article is purchased.
ā Selling Price (SP)
The price at which an article is sold.
ā Profit (Gain)
When SP > CP
Profit = SP - CP
ā Loss
When CP > SP
Loss = CP - SP
š¹ 2. Profit% and Loss%
Profit Percentage
Profit% = (Profit / CP) Ć 100
Loss Percentage
Loss% = (Loss / CP) Ć 100
š¹ 3. Selling Price (SP) Formulas
If Profit% = P
SP = CP Ć (1 + P/100)
If Loss% = L
SP = CP Ć (1 - L/100)
š¹ 4. Cost Price (CP) Formulas
If Profit% = P
CP = (SP Ć 100) / (100 + P)
If Loss% = L
CP = (SP Ć 100) / (100 - L)
š¹ 5. Marked Price (MP) & Discount
ā Discount (D)
Discount = MP - SP
Discount% = (Discount / MP) Ć 100
š¹ 6. Successive Profit/Loss
If two gains of a% and b%
Net Gain% = a + b + (aĆb)/100
If one gain a% and one loss b%
Net result = a - b - (aĆb)/100
š¹ 7. Important Short Tricks
Selling at x% loss is same as buying at x% gain
If article sold at loss% ā same as CP Ć (100 - L)/100
If article sold at profit% ā same as CP Ć (100 + P)/100
š§ Practice Section: 15 Profit & Loss Questions (With Answers)
Test your profit & loss concepts with these SSC GD level practice questions. Click on "View Answer" to check your understanding.
Q1. CP = ā¹600, SP = ā¹750. Find profit%.
View Answer
Profit = 150 ā (150/600 Ć 100 = 25%)
Q2. SP = ā¹480, Loss = 20%. Find CP.
View Answer
CP = (480 Ć 100)/80 = 600
Q3. A man buys a toy for ā¹350 and sells for ā¹420. Find gain%.
View Answer
Profit = 70 ā (70/350 Ć 100 = 20%)
Q4. CP = ā¹1200, Loss = 25%. Find SP.
View Answer
SP = 1200 Ć (1 - 25/100) = 900
Q5. SP = ā¹880, Profit = 10%. Find CP.
View Answer
CP = (880 Ć 100)/110 = 800
Q6. MP = ā¹1500, Discount = 20%. Find SP.
View Answer
Discount = 300 ā SP = 1200
Q7. CP = ā¹500. Sold at 12% loss. Find SP.
View Answer
SP = 500 Ć (1 - 0.12) = 440
Q8. SP = ā¹720 after giving 10% discount. Find MP.
View Answer
MP = (720 Ć 100)/90 = 800
Q9. Two successive profits of 10% and 20%. Find net profit%.
View Answer
10 + 20 + (10Ć20)/100 = 32%
Q10. A trader sells an item at 25% gain. If CP = ā¹640, find SP.
View Answer
SP = 640 Ć 1.25 = ā¹800
Q11. A shopkeeper earns 15% profit after giving 10% discount on MP 1000. Find CP.
View Answer
SP = 900, CP = 900/1.15 = ā¹782.60
Q12. CP of 20 pens = ā¹200. Sold each pen at ā¹15. Find profit%.
View Answer
SP total = 15 Ć 20 = 300, Profit = 100, Profit% = 100/200 Ć 100 = 50%
Q13. A shopkeeper faces 25% loss. If CP = ā¹240, find SP.
View Answer
SP = 240 Ć 0.75 = ā¹180
Q14. A man buys a phone at 8000 and sells at 7400. Find loss%.
View Answer
Loss = 600, Loss% = 600/8000 Ć 100 = 7.5%
Q15. After 20% discount, SP = ā¹1040. Find MP.
View Answer
MP = (1040 Ć 100)/80 = 1300
ā SSC GD Exam Strategy
š¢ Memorize basic profit/loss formulas for quick calculations
š¢ Practice successive profit/loss scenarios
š¢ Master discount and marked price calculations
š¢ Learn to quickly find CP from SP and profit/loss%
š¢ Time yourself - aim for 45-60 seconds per profit & loss question
You've completed Profit & Loss Concepts!
SSC GD Tip: Profit & Loss is a frequently asked topic in the quantitative section. Focus on mastering the basic formulas for profit percentage, loss percentage, and the relationship between CP, SP, and MP. Remember to practice successive profit/loss scenarios and discount calculations as they are common in SSC exams. Regular practice with previous year SSC GD questions will build your speed and accuracy in solving profit & loss problems quickly.
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