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Agniveer Army CEE Basic Profit & Loss

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This page covers Agniveer Army CEE Basic Profit & Loss with complete concept notes, 8 graded practice MCQs, key points and exam-specific tips. Free to study.

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Concept Notes

Basic Profit & Loss— Rules & Concept

Core ConceptRead this first — the foundation of the topic
Core Concept

When you buy something for Rs. 100 and sell it for Rs. 120, you make Rs. 20 profit. If you sell it for Rs. 80, you face Rs. 20 loss. This simple idea forms the basis of all profit-loss calculations

Key Terms

Cost Price (CP) = Price at which goods are purchased. Selling Price (SP) = Price at which goods are sold. Profit = SP - CP (when SP > CP). Loss = CP - SP (when CP > SP).

Formula BlockMemorise — at least one formula appears in every paper
Profit% = (Profit/CP) × 100. Loss% = (Loss/CP) × 100. SP = CP + Profit = CP(100 + Profit%)/100. SP = CP - Loss = CP(100 - Loss%)/100. CP = SP × 100/(100 + Profit%). CP = SP × 100/(100 - Loss%).
Exam PatternsWhat examiners ask — read before attempting PYQs

SSC CGL asks 2-3 direct profit-loss questions every year. Common question types include finding CP when SP and profit% are given, calculating overall profit/loss in multiple transactions, and finding marked price after discount. Powerful Shortcut #1: When profit% = loss%, overall result is always loss. Loss% = (Profit%)²/100. Example: 20% profit on one item, 20% loss on another = Overall loss of 4%.

Worked ExampleSolve this step-by-step before moving on
1
Step 1

Identify CP = Rs. 800, SP = Rs. 920

2
Step 2

Calculate Profit = SP - CP = 920 - 800 = Rs. 120

3
Step 3

Apply formula Profit% = (Profit/CP) × 100 = (120/800) × 100 = 15% Answer: 15% profit Shortcut #2: Quick CP calculation when SP and profit% known. Use: CP = SP/(1 + Profit%/100). For 25% profit, divide SP by 1.25. For 20% loss, divide SP by 0.8. Worked Example 2: An article is sold for Rs. 1440 at 20% loss. Find the cost price.

1
Step 1

SP = Rs. 1440, Loss% = 20%

2
Step 2

Use shortcut CP = SP/(1 - Loss%/100) = SP/0.8

3
Step 3

CP = 1440/0.8 = Rs. 1800 Verification: 20% of 1800 = 360, so SP = 1800 - 360 = 1440 ✓ Answer: Rs. 1800 Shortcut #3: For successive transactions, multiply factors. 10% profit followed by 20% loss = 1.1 × 0.8 = 0.88, meaning 12% overall loss. Most Common Trap: Students calculate percentage on Selling Price instead of Cost Price. Remember: Profit% and Loss% are ALWAYS calculated on Cost Price, never on Selling Price. This mistake costs at least 1-2 marks in every exam. Another frequent error involves sign confusion. When CP > SP, it's a loss situation. When SP > CP, it's profit. Always check this relationship before applying formulas. Exam Strategy: Start with identifying what's given and what's asked. Write down CP, SP clearly. Apply the basic formula first, then use shortcuts for speed. Double-check by working backwards - if you found CP, calculate SP using the given profit% to verify your answer.

Key Points to Remember

  • Profit occurs when Selling Price > Cost Price, Loss occurs when Cost Price > Selling Price
  • Profit% and Loss% are always calculated on Cost Price, never on Selling Price
  • Quick formula: SP = CP × (100 ± gain%)/100 where + for profit, - for loss
  • Shortcut: When profit% equals loss% in two transactions, overall result is always loss
  • CP calculation trick: CP = SP/(1 + profit%/100) or CP = SP/(1 - loss%/100)
  • For successive discounts or profits, multiply the factors: (1±%/100)
  • Break-even point means SP = CP, so profit = 0 and loss = 0
  • Cost Price includes all expenses like transport, taxes, and overhead costs
  • Marked Price is different from Selling Price when discount is given
  • Overall loss% in equal profit-loss case = (profit%)²/100

Exam-Specific Tips

  • When profit% = loss% = x%, then overall loss% = x²/100
  • If an article is sold at cost price after giving x% discount, then markup% = x/(100-x) × 100
  • For 2 articles with equal CP, one sold at x% profit and other at x% loss, overall loss = 2x²/(100)²
  • When SP of x articles = CP of y articles, profit% = (y-x)/x × 100
  • If CP of A is x% more than CP of B, then CP of B is x/(100+x) × 100% less than A
  • Selling price formula: SP = MP × (100-discount%)/100 where MP is Marked Price
  • For successive profits of a% and b%, overall profit% = a + b + ab/100
  • Break-even occurs when SP = CP, meaning profit percentage = 0%
Practice MCQs

Basic Profit & Loss — Practice Questions

8graded MCQs · easy to hard · full solution & trap analysis

All MCQs →
Practice 1easy

A shopkeeper buys a book for ₹200 and sells it for ₹260. What is his profit percentage?

Practice 2easy

A merchant sells a watch for ₹1440 at a loss of 10%. What was the cost price of the watch?

Practice 3easy

A vendor buys oranges at ₹5 per dozen and sells them at ₹8 per dozen. How much profit does he make on selling 60 dozen oranges?

Practice 4medium

A shopkeeper buys a pen for ₹8 and sells it for ₹10. What is the profit percentage?

Practice 5medium

A merchant buys 5 kg of rice for ₹250 and sells it at ₹60 per kg. Find the total profit.

Practice 6medium

A book is sold for ₹240 at a loss of 20%. What is its cost price?

Practice 7medium

A trader buys notebooks at ₹12 each and sells them at a profit of 25%. At what price does he sell each notebook?

Practice 8hard

A shopkeeper buys a shirt for ₹400 and marks it at a price such that after giving a 20% discount, he still makes a 25% profit. What is the marked price of the shirt?

60-Second Revision — Basic Profit & Loss

  • Remember: Profit% = (SP-CP)/CP × 100, always on cost price base
  • Formula: CP = SP/(1 ± gain%/100) for quick reverse calculations
  • Trap: Never calculate profit percentage on selling price
  • Shortcut: Equal profit-loss case always gives overall loss = (%)²/100
  • Quick check: SP > CP means profit, CP > SP means loss
  • Pattern: Successive changes multiply as (1±%/100) factors
  • Memory aid: Cost price is the denominator in all percentage calculations
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