Question 1

A merchant purchases a book for ₹80 and wants to make a profit of 40%. At what price should he sell the book?

Accepted Answer

Step 1: Cost Price (CP) = ₹80, Required Profit % = 40%. Step 2: Profit = (40/100) × 80 = ₹32. Step 3: Selling Price (SP) = CP + Profit = 80 + 32 = ₹112. Therefore, the book should be sold for ₹112.

Question 2

A vendor sells an item at ₹450 and incurs a loss of 10%. What was the cost price of the item?

Accepted Answer

Step 1: Selling Price (SP) = ₹450, Loss % = 10%. Step 2: When there is a 10% loss, SP = CP × (90/100). Step 3: 450 = CP × 0.9, so CP = 450 / 0.9 = ₹500. Therefore, the cost price is ₹500.

Question 3

If the cost price of 8 articles is equal to the selling price of 10 articles, what is the loss percentage?

Accepted Answer

Step 1: Let CP of 1 article = ₹1. Then CP of 8 articles = ₹8. Step 2: SP of 10 articles = ₹8 (given that CP of 8 = SP of 10). Step 3: SP of 1 article = 8/10 = ₹0.80. Step 4: Loss per article = 1 - 0.80 = ₹0.20. Step 5: Loss % = (0.20 / 1) × 100 = 20%. Therefore, the loss percentage is 20%.

Question 4

A shopkeeper marks an item at ₹500. He gives a discount of 20% on the marked price. If his cost price is ₹350, what is his profit percentage?

Accepted Answer

Step 1: Marked Price (MP) = ₹500, Discount = 20%. Step 2: Selling Price (SP) = MP - (20/100) × MP = 500 - 100 = ₹400. Step 3: Cost Price (CP) = ₹350. Step 4: Profit = SP - CP = 400 - 350 = ₹50. Step 5: Profit % = (50 / 350) × 100 = 14.29% ≈ 14.3% or 100/7 %. Therefore, the profit percentage is approximately 14.3%.

Question 5

A trader buys 5 kg of sugar for ₹250. He sells 2 kg at ₹60 per kg and the remaining at ₹45 per kg. What is his overall profit percentage?

Accepted Answer

Step 1: Cost Price (CP) = ₹250 for 5 kg. Step 2: Selling Price (SP) = (2 × 60) + (3 × 45) = 120 + 135 = ₹255. Step 3: Profit = SP - CP = 255 - 250 = ₹5. Step 4: Profit % = (5 / 250) × 100 = 2%. Therefore, the profit percentage is 2%.

Question 6

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

Accepted Answer

Step 1: Cost Price (CP) = ₹12, Selling Price (SP) = ₹15. Step 2: Profit = SP - CP = 15 - 12 = ₹3. Step 3: Profit % = (Profit / CP) × 100 = (3 / 12) × 100 = 25%. Therefore, the profit percentage is 25%.

Question 7

A trader sells a watch for ₹1,200 at a loss of 20%. What was the cost price of the watch?

Accepted Answer

Step 1: Selling Price (SP) = ₹1,200, Loss = 20%. Step 2: If loss is 20%, then SP = 80% of CP. Step 3: 1,200 = 0.80 × CP. Step 4: CP = 1,200 / 0.80 = ₹1,500. Therefore, the cost price is ₹1,500.

Question 8

A shopkeeper buys a shirt for ₹400 and sells it for ₹520. What is his profit percentage?

Accepted Answer

Step 1: Cost Price (CP) = ₹400, Selling Price (SP) = ₹520. Step 2: Profit = SP - CP = 520 - 400 = ₹120. Step 3: Profit % = (Profit / CP) × 100 = (120 / 400) × 100 = 30%. Therefore, the profit percentage is 30%.

Question 9

A vendor purchases apples at ₹60 per dozen and sells them at ₹75 per dozen. If he sells 8 dozen apples, what is his total profit?

Accepted Answer

Step 1: Cost Price per dozen = ₹60, Selling Price per dozen = ₹75. Step 2: Profit per dozen = 75 - 60 = ₹15. Step 3: Total profit for 8 dozen = 15 × 8 = ₹120. Therefore, the total profit is ₹120.

Question 10

A book is marked at ₹500. A shopkeeper gives a discount of 15% on the marked price and still makes a profit of 25%. What is the cost price of the book?

Accepted Answer

Step 1: Marked Price (MP) = ₹500, Discount = 15%. Step 2: Selling Price (SP) = 500 - (0.15 × 500) = 500 - 75 = ₹425. Step 3: Profit = 25%, so SP = 1.25 × CP. Step 4: 425 = 1.25 × CP. Step 5: CP = 425 / 1.25 = ₹340. Therefore, the cost price is ₹340.

Question 11

A merchant buys two items: Item A for ₹800 and Item B for ₹1,200. He sells Item A at a profit of 30% and Item B at a loss of 10%. What is his overall profit or loss?

Accepted Answer

Step 1: Item A: CP = ₹800, Profit = 30%. SP = 800 × 1.30 = ₹1,040. Step 2: Item B: CP = ₹1,200, Loss = 10%. SP = 1,200 × 0.90 = ₹1,080. Step 3: Total CP = 800 + 1,200 = ₹2,000. Total SP = 1,040 + 1,080 = ₹2,120. Step 4: Overall Profit = 2,120 - 2,000 = ₹120. Therefore, the overall profit is ₹120.

Question 12

A retailer marks up goods by 60% above the cost price. He then offers a discount of 25% on the marked price. What is his profit percentage?

Accepted Answer

Step 1: Let CP = ₹100. Markup = 60%, so MP = 100 + (0.60 × 100) = ₹160. Step 2: Discount = 25% on MP. SP = 160 - (0.25 × 160) = 160 - 40 = ₹120. Step 3: Profit = SP - CP = 120 - 100 = ₹20. Step 4: Profit % = (20 / 100) × 100 = 20%. Therefore, the profit percentage is 20%.

Question 13

A vendor buys 200 kg of rice at ₹40 per kg. He sells 60% of it at ₹50 per kg and the rest at ₹45 per kg. What is his profit percentage?

Accepted Answer

Step 1: Total CP = 200 × 40 = ₹8,000. Step 2: Quantity sold at ₹50 = 60% of 200 = 120 kg. Revenue = 120 × 50 = ₹6,000. Step 3: Remaining quantity = 200 - 120 = 80 kg sold at ₹45. Revenue = 80 × 45 = ₹3,600. Step 4: Total SP = 6,000 + 3,600 = ₹9,600. Step 5: Profit = 9,600 - 8,000 = ₹1,600. Step 6: Profit% = (1,600 / 8,000) × 100 = 20%.

Question 14

A merchant marks his goods 40% above cost price. He gives a discount of 20% on the marked price. If he earns a profit of ₹480 on an article, what is the cost price of that article?

Accepted Answer

Step 1: Let CP = x. Marked Price (MP) = x + 40% of x = 1.4x. Step 2: Discount = 20% of MP = 0.2 × 1.4x = 0.28x. Step 3: Selling Price (SP) = MP - Discount = 1.4x - 0.28x = 1.12x. Step 4: Profit = SP - CP = 1.12x - x = 0.12x. Step 5: Given Profit = ₹480, so 0.12x = 480. Step 6: x = 480 / 0.12 = 4,000. Therefore, CP = ₹4,000.

Question 15

A trader buys two types of goods. Type A costs ₹80 per unit and Type B costs ₹120 per unit. He buys 150 units of Type A and 100 units of Type B. He sells Type A at 25% profit and Type B at 20% profit. What is his total profit?

Accepted Answer

Step 1: CP of Type A = 150 × 80 = ₹12,000. CP of Type B = 100 × 120 = ₹12,000. Total CP = 12,000 + 12,000 = ₹24,000. Step 2: SP of Type A = 12,000 × 1.25 = ₹15,000. SP of Type B = 12,000 × 1.20 = ₹14,400. Total SP = 15,000 + 14,400 = ₹29,400. Step 3: Total Profit = 29,400 - 24,000 = ₹5,400.

Question 16

A shopkeeper buys 120 articles at ₹45 per article. He sells 80% of them at ₹60 per article and the remaining at ₹50 per article. What is his overall profit percentage?

Accepted Answer

Step 1: Cost Price (CP) = 120 × 45 = ₹5,400. Step 2: Articles sold at ₹60 = 80% of 120 = 96 articles. Revenue from these = 96 × 60 = ₹5,760. Step 3: Remaining articles = 120 - 96 = 24 articles sold at ₹50. Revenue = 24 × 50 = ₹1,200. Step 4: Total Selling Price (SP) = 5,760 + 1,200 = ₹6,960. Step 5: Profit = 6,960 - 5,400 = ₹1,560. Step 6: Profit% = (1,560 / 5,400) × 100 = 28.89% ≈ 28.89%. Rounding to nearest clean value: 28.89% rounds to approximately 29% (or exact: 260/9 %).

Question 17

A retailer buys notebooks at ₹12 per dozen. He sells them at ₹1.50 per notebook. If he sells 480 notebooks, what is his profit percentage?

Accepted Answer

Step 1: Cost per dozen = ₹12, so cost per notebook = 12 / 12 = ₹1 per notebook. Step 2: Total notebooks sold = 480. Cost Price (CP) = 480 × 1 = ₹480. Step 3: Selling Price (SP) = 480 × 1.50 = ₹720. Step 4: Profit = 720 - 480 = ₹240. Step 5: Profit% = (240 / 480) × 100 = 50%.

Question 18

A shopkeeper sells an article at ₹1,200 and incurs a loss of 20%. To earn a profit of 10%, at what price should he have sold the article?

Accepted Answer

Step 1: Selling Price (SP) = ₹1,200 with 20% loss. If loss is 20%, then SP = 80% of CP. Step 2: 0.8 × CP = 1,200, so CP = 1,200 / 0.8 = ₹1,500. Step 3: To earn 10% profit, SP = CP × 1.10 = 1,500 × 1.10 = ₹1,650.

SSC MTS Basic Profit & Loss

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60-Second Revision — Basic Profit & Loss