SSC CHSL Topic Wise Study Material – Quantitative Aptitude – Profit, Loss and Discount
What is Profit and Loss?
Profit and loss are the basic terms related to a business of trade. When an article or a goods is purchased or sold either the profit is earned or loss is incurred. Here, we will learn that how these profit, loss, selling price or cost price are calculated. Some definitions of basic terminologies are given as below
Cost Price The price at which any article is bought, is called cost price of the article, denoted by CP.
Selling Price The price at which any article is sold, is called selling price, denoted by SP.
Profit It is the difference between selling price and cost price, if selling price is more than the cost price. It is also known as gain.
i.e., Profit = Selling price – Cost price => Profit = SP- CP (Where, SP > CP)
Loss It is the difference between cost price and selling price, if cost price is more than selling price.
i.e., Loss = Cost price – Selling price
Loss = CP-SP (Where, CP >SP)
Discount Discount is a term used during a business. It is the rebate given to the buyer by the seller to increase the sale. Discount is always given on marked price or printed price of-the article.
i. e., Discount = Marked/Print price – Selling price
Some Basic Formulae
Some Useful Facts/Formulae
- If a person sells two similar articles, one at a gain of a% and another at a loss of a%, then the seller always incurs a loss which is given by.
Loss per cent =(a/10)²%
Example The marked price is 20% higher than cost price. A discount of 20% is given on the marked price. By this type of sale, there is SSC(10+2)2012
(a) No loss no gain
(b) 4% gain
(c) 4% loss
(d) 2% loss
- If cost price of a articles is equal to the selling price of b articles, then profit percentage = a-b/b x 100%
Example If the cost price of 10 articles is equal to the sales price of 16 articles, then the gain or loss per cent is SSC (10+2) 2011
(a) 28% profit
(b) 37 1/2 % profit
(c) 28% loss
(d) 37 1/2 % loss
- If two successive discounts on an article are m% and n% respectively, then a single discount equivalent to the two successive discounts will be
(m + n -mn/100)%
Example A chair listed at Rs 350 is available at successive discounts of 25% and 10%. The selling price of the chair is SSC (10 + 2) 2012
(a) Rs 240.25
(b) Rs 242.25
(c) Rs 236.25
(d) Rs 230.25
- If a dishonest trader professes to sell his items at uses false weight, then
1. If a dinning table which marked price is Rs 6000, sale to a customer in Rs 5000, then what is the rate of discount given on it? SSC (10 + 2) 2017
(b) 8 1/3%
2. Simon purchased a bicycle for Rs 6810. He had paid a VAT of 13.5%. The list price of the bicycle was SSC (10+2) 2015
(a) Rs 6696.50
(b) Rs 6140
(c) Rs 5970.50
(d) Rs 6000
3. A merchant offers 8% discount on all his goods and still makes a profit of 15%. If an item is marked Rs 250, then its cost price is SSC (10+2) 2014
(a) Rs 230
(b) Rs 187
(c) Rs 180
(d) Rs 200
4.If in a sale, the discount given on a saree is equal to one-fourth the marked price and the loss due to this discount is 15%, then the ratio of the cost price to the selling price is SSC (10 + 2) 2014
(c) 3 : 4
(d) 4: 3
5. A merchant loses 10% by selling an article. If the cost price of the article is Rs 15, then the selling price of the article is SSC (10 + 2) 2014
6.Yogita sold a plasma TV at 20% gain to Shyamla. Shyamla sold it to Deepa at 10% profit. If Deepa had to pay Rs 33000 for the plasma TV, find the cost price of the plasma TV for Yogita. SSC (10+2) 2014
7.The marked price of a saree is Rs 200. After allowing a discount of 20% on the marked price, the shopkeeper makes a profit of Rs 16. Find the gain per cent. SSC (10+2) 2014
(a) 11 1/9
(b) 9 1/11
8.The marked price of an item is twice the cost price. For a gain of 15%, the discount should be SSC (10 + 2) 2014
9.A man sold his watch at a loss of 5%. Had he sold it for Rs 56.25 more, he would have gained 10%. What is the cost price (in Rs) of the watch? SSC (10 + 2) 2014
1. The cost price of two dozen bananas is Rs 32. After selling 18 bananas at Rs 12 per dozen, the shopkeeper reduced the rate Rs 4 per dozen. The loss per cent is
2. The total cost price of two watches is Rs 840 one is sold at a profit of 16% and other at a loss of 2% . There is no loss or gain in the whole transaction. The cost price of the watch on which the shopkeeper gains is
(a) Rs 360
(b) Rs 370
(c) Rs 380
(d) Rs 390
3. The marked price of a shirt and trousers are in the ratio 1 : 2 .The shopkeeper give 40% discount on the shirt. If the total discount on both is 30%, the discount offered on the trousers is
4. A trader’s marked price is 30% above cost price. He allows his customers 10% discount on the marked price. What profit does he make?
5. A shopkeeper earns a profit of 15% after selling a book or 20% discount on the printed price. The ratio of the cost price and the printed price of the book is
(a) 16: 23
(b) 20 : 23
(c) 23 : 16
(d) 23 : 20
6. A trader marked his goods a 20% above cost price. He sold half the stock at the marked price, one 15, quarter at a discount of 20% on the marked price and the rest at a discount of 40% on the marked price. His gain per cent is
7. A shopkeeper allows a discount of 10% on the 16, marked price of an item but charges a sales tax of 8% on the discounted price. If the customer pays Rs 680.40 as the price including the sales tax, then what is the marked price on the item?
(a) Rs 630
(b) Rs 700
(c) Rs 780
(d) None of these
8. A pet shop owner sells two puppies at the same price. On one he makes a profit of 20% and on the other he suffers a loss of 20%. Find his loss or gain per cent on the whole transaction.
(a) Gain of 4%
(b) No profit no loss
(c) Loss of 1%
(d) Loss of 4%
9. How much per cent more than the cost price should a shopkeeper mark his goods, so that after allowing a discount of 12.5%. He should have a gain of 5% on his outlay?
10. In order to maintain the price line, a trader allows a discount of 10% on the marked price-of goods in his shop. However, he still makes a gross profit of 17% on the cost price. Find the profit he would have made on the selling price had he sold at the marked price
11. The cost of production of a mobile in 2010 is Rs 900 divided between material, labour and overheads in the ratio 3 : 4 : 2. If the mobile phone is marked at a price that gives a 20% profit on the compound of price accounted for the labour, what is the marked price of the mobile?
12. Arav bought an article at Rs 200 and sold it at a profit of 10%. What would have been the increase in the profit per cent if it was sold for Rs 230?
(d) None of these
13. A reduction of 10% is the price of sugar enables a housewife to buy 6.2 kg more for Rs 27.9. Find the reduced price per kilogram.
(a) Rs 5
(b) Rs 4.5
(c) Rs 4.05
(d) None of these
14. A man buys 50kg of oil at Rs 10 per kg another 40 kg of oil at Rs 12 kg and mixes them. He sells the mixture at the rate of Rs 11 per kg. What will be his gain per cent, if he is able to sell the whole lot?
(b) 100 (10/49)%
(c) 10 (1/49)%
(d) None of these
15.A man buys two cycles for a total cost of Rs 900. By selling one for 4/5 of its cost and other for 5/4 of its cost, he makes a profit of Rs 90 on the whole transaction. Find the cost price of lower priced cycle,
(a) Rs 360
(b) Rs 250
(c) Rs 300
(d) Rs 420
16.A manufacturer makes a profit of 15% by selling a colour TV for Rs 5750. If the cost of manufacturing increases by 30% and the price paid by the retailer is increased by 20%. Find the profit per cent made by the manufacture.
(a) 6 (2/13)%
(b) 4 (8/13)%
(c) 6 (1/13)%
(d) 7 (4/13)%
17. The cost of manufacturing an article is made up of materials, labour and overheads in the ratio 4:3:2. If the cost of labour is Rs 45. Find the profit per cent if .the article is sold for Rs 180.
18. Rahim bought a TV with 20% discount on list price. Had he bought it with 25% discount, he would have saved Rs 500. At what price did he by the TV? SSC (10 + 2) 2011
(a) Rs 16000
(b) Rs 12000
(c) Rs 10000
(d) Rs 8000
19. Successive discounts of p% and q% on the catalogue price of an article is equivalent to a single discount SSC (10 + 2) 2011
20. By selling an article, a man makes a profit of 25% of its selling price. His profit per cent is SSC (10+2) 2010
(c) 16 2/3
(d) 33 1/3
21. By selling a bicycle for Rs 2850, a shopkeeper gains 14%. If the profit is reduced to 8%, then the selling price will be SSC (10 + 2) 2010
22. If the ratio of cost price and selling price of an article be as 10 : 11, the percentage of profit is SSC (10 + 2) 2010
23. A shopkeeper earns a profit of 12% on selling a book at 10% discount on the printed price. The ratio of the cost price and the printed price of the book is SSC (10 + 2) 2010
(a) 45 : 56
(b) 45 : 51
(c) 47 : 56
(d) 47 : 51
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