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SSC CHSL Basic Profit & Loss

Study Material — 3 PYQs (2018–2018) · Concept Notes · Shortcuts

SSC CHSL Basic Profit & Loss is a frequently tested subtopic — 3 previous year questions from 2018–2018 papers are included below with concept notes, key rules and shortcut tricks.

3 PYQs
2018–2018
29 Practice
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10 Key Points
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Previous Year Questions

SSC CHSL Basic Profit & Loss — Past Exam Questions

3 questions from actual SSC CHSL papers · all shown free · click option to reveal solution

Exam Q 12018Previous Year Pattern

A shopkeeper buys a table for ₹800 and sells it for ₹1,040. What is his profit percentage?

Exam Q 22018Previous Year Pattern

A shopkeeper buys 120 pens at ₹8 per pen. He sells 80 pens at ₹12 per pen and the remaining pens at ₹10 per pen. What is his overall profit percentage?

Exam Q 32018Previous Year Pattern

A trader marks his goods 40% above the cost price and offers a discount of 20% on the marked price. Due to a faulty weighing machine, he gives only 800 g instead of 1000 g. What is his overall profit percentage?

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

29graded MCQs · easy to hard · full solution & trap analysis · showing 20 of 29

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Practice 1easy

A trader buys 10 kg of sugar for ₹500. He sells it at ₹60 per kg. What is his total profit?

Practice 2easy

A vendor buys apples at ₹60 per dozen and sells them at ₹75 per dozen. What is the profit percentage?

Practice 3easy

A shopkeeper buys 100 notebooks at ₹5 each and sells 80 of them at ₹8 each. He sells the remaining at ₹3 each. What is his total profit?

Practice 4easy

A trader sells an item at ₹180 and incurs a loss of ₹20. What was the cost price of the item?

Practice 5easy

If the Cost Price of an article is ₹400 and the Selling Price is ₹500, what is the profit amount?

Practice 6easy

A shopkeeper buys a pen for ₹12 and sells it for ₹15. What is his profit percentage?

Practice 7easy

A merchant buys 50 kg of rice at ₹40 per kg and sells it at ₹50 per kg. What is the total profit?

Practice 8easy

A merchant sells a book at a loss of 10%. If the Cost Price is ₹200, what is the Selling Price?

Practice 9easy

If a book is bought for ₹200 and sold for ₹240, what is the profit percentage?

Practice 10medium

A book is sold for ₹432 at a profit of 20%. If the book had been sold for ₹360, what would have been the loss percentage?

Practice 11medium

A book seller buys books at ₹250 per book. He offers a discount of 10% on the marked price and still makes a profit of 20%. What is the marked price of each book?

Practice 12medium

A retailer marks up goods by 50% above cost price. During a sale, he offers successive discounts of 20% and 10%. What is his overall profit or loss percentage?

Practice 13medium

A shopkeeper buys a shirt for ₹400 and marks it at 60% above the cost price. He then offers a discount of 25% on the marked price. What is his profit percentage?

Practice 14medium

A shopkeeper buys a watch for ₹800 and marks it at 60% above the cost price. If he gives a discount of 25% on the marked price, what is his profit percentage?

Practice 15medium

A merchant sells two items. On the first item, he makes a profit of 25%, and on the second item, he makes a loss of 20%. If the cost price of both items is ₹400 each, what is his overall profit or loss percentage?

Practice 16medium

A trader buys 120 kg of rice at ₹30 per kg. He sells 80 kg at ₹40 per kg and the remaining rice at ₹25 per kg. What is his overall profit or loss percentage?

Practice 17medium

A vendor sells two items. On the first item, he makes a profit of 20% and on the second item, he makes a loss of 10%. If the cost price of each item is ₹500, what is his overall profit or loss percentage?

Practice 18medium

A trader buys 50 kg of rice at ₹40 per kg. He sells 30 kg at ₹50 per kg and the remaining at ₹35 per kg. What is his overall profit or loss percentage?

Practice 19medium

A vendor buys oranges at ₹5 per dozen. He sells them at ₹0.50 per orange. If he buys 240 dozen oranges, what is his profit percentage?

Practice 20hard

A shopkeeper buys 120 articles at ₹45 per article. He sells 80% of them at ₹60 per article and the remaining at ₹36 per article. What is his overall profit percentage?

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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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