SSC CGL Tier II level Question Set 8, Profit and loss 1

8th SSC CGL Tier II level Question Set, 1st on topic Profit and loss

SSC CGL Tier2 question set 8 profit and loss1

This is the 8th question set of 10 practice problem exercise for SSC CGL Tier II exam and 1st on topic Profit and loss. Students should complete this question set in prescribed time first and then only refer to the corresponding solution set.

We will repeat the method of taking the test.

Method for taking this 10 problem test and get the best results from the test set:

  1. Before start, go through the tutorials Numbers, Number system and basic arithmetic operations, Factorizing or finding out factors, HCF and LCM, Basic concepts on fractions and decimals part 1, Ratio and proportion or any other short but good material to refresh your concepts if you so require.
  2. Answer the questions in an undisturbed environment with no interruption, full concentration and alarm set at 15 minutes.
  3. When the time limit of 15 minutes is over, mark up to which point you have answered, but go on to complete the set.
  4. At the end, refer to the answers given in the companion 8th SSC CGL Tier II level solution set on Profit and loss 1, to mark your score at 15 minutes. For every correct answer add 1 and for every incorrect answer deduct 0.25 (or whatever is the scoring pattern in the coming test). Write your score on top of the answer sheet with date and time.
  5. Identify and analyze the problems that you couldn't do to learn how to solve those problems.
  6. Identify and analyze the problems that you solved incorrectly. Identify the reasons behind the errors. If it is because of your shortcoming in topic knowledge improve it by referring to only that part of concept from the best source you get hold of. You might google it. If it is because of your method of answering, analyze and improve those aspects specifically.
  7. Identify and analyze the problems that posed difficulties for you and delayed you. Analyze and learn how to solve the problems using basic concepts and relevant problem solving strategies and techniques.
  8. Give a gap before you take a 10 problem practice test again.

Important: both practice tests and mock tests must be timed, analyzed, improving actions taken and then repeated. With intelligent method, it is possible to reach highest excellence level in performance.

Resources that should be useful for you

You may refer to:

7 steps for sure success in SSC CGL tier 1 and tier 2 competitive tests or section on SSC CGL to access all the valuable student resources that we have created specifically for SSC CGL, but generally for any hard MCQ test.

Tutorials that you should refer to

Numbers, Number system and basic arithmetic operations

Factorizing or finding out factors

HCF and LCM

Basic concepts on fractions and decimals part 1

Ratio and proportion

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8th question set - 10 problems for SSC CGL Tier II exam: topic Profit and loss - Answering time 15 mins

Problem 1.

A dealer purchased a microwave oven for Rs.7660. After giving a discount of 12% on its marked price, he still gained 10%. The marked price was,

  1. Rs.9755
  2. Rs.8426 
  3. Rs.8246
  4. Rs.9575

Problem 2.

If a man were to sell a chair for Rs.720, he would lose 25%. For gaining 25%, he has to sell it for,

  1. Rs.960
  2. Rs.1000
  3. Rs.1200
  4. Rs.900

Problem 3.

Purchasing a motorcycle from Surya, Naveen spent Rs.1680 on it for repair and sold it to Pintu for Rs.35910 at a profit of 12.5%. If Surya sold the motorcycle to Naveen at a loss of 28%, the purchase cost of the motorcycle for Surya is,

  1. Rs.35000
  2. Rs.38000
  3. Rs.40000
  4. Rs.42000

Problem 4.

Praveen bought a plot of land for Rs.96000 and sold $\frac{2}{5}$th of it at a loss of 6%. If he wanted to make a profit of 10% on the whole transaction by selling the remaining land, the gain % of the remaining land must then be,

  1. $20\text{%}$
  2. $20\frac{2}{3}\text{%}$
  3. $7\text{%}$
  4. $14\text{%}$

Problem 5.

A shopkeeper bought two watches at a total cost of Rs.840. He then sold one at a loss of 12% and the other at a profit of 16%. There was no loss or gain in the whole transaction. The cost price of the watch on which the shopkeeper gained was then,

  1. Rs.390
  2. Rs.370
  3. Rs.380
  4. Rs.360

Problem 6.

A manufacturer sold an article to a wholesale dealer at a profit of 10%. The wholesale dealer sold it to a shopkeeper at 20% profit. The shopkeeper then sold it to a customer for Rs.56100 at a loss of 15%. The cost price of the article to the manufacturer was then,

  1. Rs.50000
  2. Rs.10000
  3. Rs.25000
  4. Rs.55000

Problem 7.

A house and a shop were sold for Rs.1 lakh each. The house sale resulted in a loss of 20% whereas the shop sale made a profit of 20%. The entire transaction then resulted in,

  1. No loss or gain
  2. Gain of Rs.$\frac{1}{24}$ lakh
  3. Loss of Rs.$\frac{1}{12}$ lakh
  4. Loss of Rs.$\frac{1}{18}$ lakh

Problem 8.

A fruit seller sells lemons at the rate of 5 for 3 rupees which he bought at 2 for a rupee. His profit percent is,

  1. 10%
  2. 15%
  3. 25%
  4. 20%

Problem 9.

The ratio at which tea costing Rs.150/kg is to be mixed with tea costing Rs.192/kg so that the mixed tea when sold for Rs.194.40/kg gives a profit of 20% is,

  1. $2:5$
  2. $3:5$
  3. $5:3$
  4. $5:2$

Problem 10.

The percentage loss when an article is sold at Rs.50 is the same as the percentage profit when it is sold for Rs.70. The loss or gain is,

  1. $20\text{%}$
  2. $16\frac{2}{3}\text{%}$
  3. $10\text{%}$
  4. $22\frac{2}{3}\text{%}$

Answers to questions

Problem 1. Answer: Option d: Rs.9575.

Problem 2. Answer: Option c : Rs.1200.

Problem 3. Answer: d: Rs.42000.

Problem 4. Answer: Option b: $20\frac{2}{3}\text{%}$.

Problem 5. Answer: Option d: Rs.360.

Problem 6. Answer: Option a : Rs.50000.

Problem7. Answer: c: loss of Rs. $\frac{1}{12}$ lakh.

Problem 8. Answer: Option d: 20%.

Problem 9. Answer: Option d: $5:2$.

Problem 10. Answer: b: $16\frac{2}{3}\text{%}$.


Resources that should be useful for you

7 steps for sure success in SSC CGL tier 1 and tier 2 competitive tests or section on SSC CGL to access all the valuable student resources that we have created specifically for SSC CGL, but generally for any hard MCQ test.

Other related question set and solution set on SSC CGL Profit and loss and Ratio and Proportion

SSC CGL Tier II level Solution Set 8 on Profit and loss 1

SSC CGL level Solution Set 34 on Profit and loss 3

SSC CGL level Question Set 34 on Profit and loss 3

SSC CGL level Solution Set 29 on Profit and loss 2

SSC CGL level Question Set 29 on Profit and loss 2

SSC CGL level Solution Set 25 on Arithmetic Percentage Ratios

SSC CGL level Question Set 25 on Arithmetic Percentage Ratios

SSC CGL level Solution Set 24 on Arithmetic Ratios

SSC CGL level Question Set 24 on Arithmetic Ratios

SSC CGL level Solution Set 6 on Profit and loss

SSC CGL level Solution Set 5 on Arithmetic Ratios

SSC CGL level Question Set 5 on Arithmetic Ratios

SSC CGL level Solution Set 4 on Arithmetic Ratios

SSC CGL level Question Set 4 on Arithmetic Ratios

How to solve difficult SSC CGL Math problems at very high speed using efficient problem solving strategies and techniques

These resources should be extremely useful for you to speed up your in-the-exam-hall SSC CGL math problem solving. You will find these under the subsection Efficient Math Problem Solving.

This is a collection of high power strategies and techniques for solving apparently tricky looking problems in various topic areas usually within a minute. These are no bag of tricks but are based on concepts and strategies that are not to be memorized but to be understood and applied with ease along with permanent skillset improvement.

The following are the associated links,

How to solve difficult SSC CGL Profit and loss problems in a few steps 3

How to solve similar problems in a few seconds, Profit and loss problem 2, Domain modeling

How to solve in a few steps, Profit and loss problem 1