Profit and loss is an important topic in the SSC GD exam quantitative section. Understanding this topic helps you solve many questions quickly and accurately. In profit and loss problems, you deal with buying price, selling price, cost price, profit, loss, and percentages. The basic formulas are:
Key Terms and Formulas
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Cost Price (CP): The price at which an item is purchased.
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Selling Price (SP): The price at which an item is sold.
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Profit: When SP > CP.
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Loss: When SP < CP.
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Profit or Loss Amount:
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Profit = SP – CP
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Loss = CP – SP
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Profit or Loss Percentage:
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Profit % = (Profit / CP) × 100
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Loss % = (Loss / CP) × 100
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SSC GD Profit & Loss Questions and Answers
Q.1 An article was sold at ₹600, making a profit of 20%. The cost price of the article was
Answer: C
Solution:
SP = ₹600
Profit = 20%
SP = CP × (1 + 20/100)
600 = CP × 1.20
CP = 600 ÷ 1.20 = ₹500
Q.2 A shopkeeper allows a discount of 20% on the marked price. What price must be marked on an article costing ₹3360, so as to make a gain of 25%?
Answer: B
Solution:
CP = ₹3360
Gain = 25%
SP = 3360 × 125/100 = ₹4200
0.8 × MP = 4200
MP = 4200 ÷ 0.8 = ₹5250
Q.3 A laptop is marked at ₹50,000. A shopkeeper offers a festival discount of 10%, followed by an additional discount of 8% on the reduced price. What is the final selling price?
Answer: A
Solution:
After 10% discount:
50,000 × 0.90 = ₹45,000
After 8% discount:
45,000 × 0.92 = ₹41,400
Q.4 Rupesh sold 153 chairs and had a gain equal to the selling price of 53 chairs. Find the profit percentage.
Answer: A
Let SP of 1 chair = ₹1
Total SP = 153
Gain = 53
CP = 153 − 53 = 100
Profit % = (53 / 100) × 100 = 53%
Q.5 What is the effective discount percent if a shopkeeper offers “Buy 5 and get 3 free”?
Answer: A
Total items = 8
Free items = 3
Discount % = (3 / 8) × 100 = 37.5%
Q.6 A book was purchased for ₹1020 and sold for ₹1224. Find the profit percentage.
Answer: D
Profit = 1224 − 1020 = 204
Profit % = (204 / 1020) × 100 = 20%
Q.7 Mandar sold a calculator at 5% profit, Ketan sold it at 25% loss. Final SP = ₹3780. Find original CP.
Answer: A
CP (Ketan) = 3780 × 100 / 75 = 5040
CP (Mandar) = 5040 × 100 / 105 = ₹4800
Q.8 A vendor bought 120 shirts at ₹375 each and sold them for ₹48,600. Find gain/loss %.
Answer: A
Total CP = 120 × 375 = 45,000
Gain = 48,600 − 45,000 = 3600
Gain % = (3600 / 45000) × 100 = 8%
Q.9 Find the effective discount for the scheme “Buy 10, get 6 free”.
Answer: B
Solution:
Number of items bought = 10
Number of items free = 6
Total number of items received = 10 + 6 = 16
Effective discount % = (Free items / Total items) × 100
= (6 / 16) × 100
= 37.5%
Q.10 A trader sells a toy for ₹615 after giving a discount of 18% on its marked price. If he sells it at 80% of its marked price, then he earns a profit of 20%. What is the cost price of the toy?
Answer: A
Solution:
Selling price after 18% discount = ₹615
Hence, 82% of Marked Price = 615
Marked Price = 615 × 100 ÷ 82 = 750
Selling price at 80% of Marked Price
= 80% of 750 = 600
Given profit = 20%
Selling Price = 120% of Cost Price
Cost Price = 600 × 100 ÷ 120 = ₹500
Q.11 The cost price of item A is ₹400 more than that of B. Item A is sold at a loss of 10% and item B is sold at a profit of 60%. If there is an overall profit of 20%, then what is the selling price of item A?
Answer: C
Solution:
Let CP of B = x
CP of A = x + 400
SP of A = 90% of (x + 400) = 0.9(x + 400)
SP of B = 160% of x = 1.6x
Total CP = x + (x + 400) = 2x + 400
Total SP = 0.9(x + 400) + 1.6x
Given overall profit = 20%
Total SP = 1.2 × Total CP
0.9(x + 400) + 1.6x = 1.2(2x + 400)
0.9x + 360 + 1.6x = 2.4x + 480
2.5x + 360 = 2.4x + 480
0.1x = 120
x = 1200
CP of A = 1200 + 400 = 1600
SP of A = 90% of 1600 = ₹1440
Q.12 An item is marked at ₹1200. Successive discounts of 20% and 10% are given. What is the final selling price?
Answer: A
SP = 1200 × (1 − 20/100) × (1 − 10/100)
SP = 1200 × 0.8 × 0.9
SP = 1200 × 0.72
SP = ₹864
Q.13 Nitin bought sharpeners at ₹180 per dozen and sold them at ₹20 each. Find the profit percentage (rounded to two decimal places).
Answer: A
Solution:
CP per dozen = ₹180
CP per sharpener = 180 ÷ 12 = ₹15
SP per sharpener = ₹20
Profit per sharpener = 20 − 15 = ₹5
Profit % = (5 ÷ 15) × 100 = 33.33%
Q.14 By selling an article at 8/13 of its actual selling price, a loss of 20% is incurred. If sold at 85% of actual selling price, find the profit percentage.
Answer: D
Solution:
Let actual selling price = ₹13
First SP = ₹8
Loss = 20% ⇒ SP = 80% of CP
8 = 0.8 × CP
CP = 10
Second SP = 85% of 13 = 11.05
Profit = 11.05 − 10 = 1.05
Profit % = (1.05 ÷ 10) × 100 = 10.5%
Q.15 A shirt is marked at ₹800. A discount of 25% is allowed. Find the selling price.
Answer: A
Discount = 25% of 800 = 200
Selling Price = 800 − 200 = ₹600
Q.16 Rakesh sold 150 chairs and had a gain equal to the selling price of 75 chairs. Find the profit percentage.
Answer: C
Solution:
Let SP of 1 chair = ₹1
Total SP = 150
Gain = 75
CP = 150 − 75 = 75
Profit % = (75 ÷ 75) × 100 = 100%
Q.17 While selling 15 balls for ₹1220, there is a loss equal to the cost price of 5 balls. Find the cost price of one ball.
Answer: B
Solution:
Let CP of one ball = x
SP of 15 balls = CP of 15 balls − CP of 5 balls
1220 = 15x − 5x
1220 = 10x
x = 122
Q.18 A merchant marks his goods 50% above cost price and allows a discount of 12%. Find the profit percentage.
Answer: B
Solution:
Let CP = 100
MP = 150
SP = 150 × 0.88 = 132
Profit = 132 − 100 = 32
Profit % = 32%
Q.19 A table is marked at ₹8000. It is bought at successive discounts of 20% and 25%. Transportation cost = ₹300. If sold at ₹8000, find profit percentage.
Answer: C
Solution:
Purchase price = 8000 × 0.8 × 0.75 = 4800
Total CP = 4800 + 300 = 5100
Profit = 8000 − 5100 = 2900
Profit % = (2900 ÷ 5100) × 100 = 56.86%
Q.20 An 8% discount and a 5% discount in succession is equivalent to a total discount of:
Answer: B
Equivalent discount = 8 + 5 − (8 × 5)/100
= 13 − 0.4
= 12.6%
Q.21 A watch of marked price ₹1200 is sold at successive discounts of 5% and 8%. Find the selling price.
Answer: A
Solution:
Marked Price = 1200
After 1st discount (5%):
= 1200 × 0.95 = 1140
After 2nd discount (8%):
= 1140 × 0.92 = ₹1048.80
Q.22 A laptop is priced at ₹40,000. A discount of ₹4,000 is given. A mouse costing ₹1,500 is bought at 20% discount. Find the total amount spent.
Answer: C
Solution:
Selling price of laptop = 40,000 − 4,000 = 36,000
Discount on mouse = 20% of 1500 = 300
Selling price of mouse = 1500 − 300 = 1200
Total amount spent = 36,000 + 1,200 = ₹37,200
Q.23 A trader claims to sell wheat at a profit of 29% but uses a weight 30% less. Find total profit percentage (nearest whole number).
Answer: B
Solution:
Claimed profit = 29%
Weight shortage = 30%
Net gain factor = (100 + 29) / (100 − 30)
= 129 / 70 = 1.842857
Net profit % = (1.842857 − 1) × 100 = 84.28%
≈ 84%
Q.24 A customer buys two products of ₹350 each with a “buy one get one 30% off” offer. Find the total amount paid.
Answer: A
Solution:
Price of first product = ₹350
Discount on second product = 30% of 350 = 105
Price after discount = 350 − 105 = 245
Total amount paid = 350 + 245 = ₹595
Q.25 Two successive discounts of 65% and 24% are equivalent to a single discount of:
Answer: D
Equivalent discount = 65 + 24 − (65 × 24)/100
= 89 − 15.6
= 73.4%
Q.26 The selling price of 50 books is equal to the cost price of 39 books. Find the loss or gain percentage.
Answer: C
Solution:
Let CP of 1 book = ₹1
CP of 39 books = 39
SP of 50 books = 39
SP of 1 book = 39 ÷ 50
Loss per book = 1 − 39/50 = 11/50
Loss % = (11/50) × 100 = 22%
Q.27 An item listed at ₹1600 is bought after successive discounts of 35% and 5%. It is relisted to gain 25% after giving 5% discount. Find the new listed price.
Answer: D
Solution:
Cost Price = 1600 × 0.65 × 0.95 = 988
Selling price for 25% gain = 988 × 1.25 = 1235
Let new MP = x
0.95x = 1235
x = 1235 ÷ 0.95 = ₹1300
Q.28 92 mirrors were purchased for ₹92. During transit, 35 broke. Remaining mirrors were sold at ₹4.40 each. Find the profit.
Answer: A
Solution:
Mirrors sold = 92 − 35 = 57
Selling price = 57 × 4.40 = 250.80
Total cost price = 92
Profit = 250.80 − 92 = ₹158.80
Q.29 A person buys a ceiling fan for ₹2200 and sells it at a loss of 35%. Find the selling price.
Answer: B
Selling Price = 2200 × (1 − 35/100)
= 2200 × 0.65
= ₹1430
Q.30 On a marked price, the difference between the selling prices with a single discount of 40% and successive discounts of 15% and 20% is ₹400. Find the marked price.
Answer: C
Solution:
SP with 40% discount = 0.60 × MP
SP with 15% & 20% discount = 0.85 × 0.80 × MP = 0.68 MP
Difference = 0.68 MP − 0.60 MP = 400
0.08 MP = 400
MP = 400 ÷ 0.08 = ₹5000
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