SSC CGL level Question Set 6, Profit and Loss

Sixth SSC CGL level Question Set, topic Profit and Loss

SSC CGL level Arithmetic Question Set 6 Profit and Loss

This is the Sixth question set of 10 practice problem exercise for SSC CGL exam on topic Profit and Loss. Students must complete this question set in prescribed time first and then only refer to the corresponding solution set.

It is emphasized here that answering in MCQ test is not at all the same as answering in a school test where you need to derive the solution in perfectly elaborated steps.

In MCQ test instead, you need basically to deduce the answer in shortest possible time and select the right choice. None will ask you about what steps you followed.

Based on our analysis and experience we have seen that, for accurate and quick answering, the student

  • must have complete understanding of the basic concepts of the topics
  • is adequately fast in mental math calculation
  • should try to solve each problem using the most basic concepts in the specific topic area and
  • does most of the deductive reasoning and calculation in his head rather than on paper.

Actual problem solving happens in items 3 and 4 above. But how to do that?

You need to use your problem solving abilities only. There is no other recourse. You can improve this problem solving skill significantly by intelligent and systematic practice.

Sixth question set- 10 problems for SSC CGL exam: topic Profit and Loss - time 12 mins

Q1. The marked price of an article is 50% above its cost price. When marked price is increased by 20% and selling price is increased by 20%, the profit is doubled. If original marked price was Rs.600, the original selling price was,

  1. Rs.400
  2. Rs.580
  3. Rs.500
  4. Rs.550

Q2. A trader marked the price of a commodity so as to include a profit of 25% but allowed a discount of 16% on marked price. His actual profit will be,

  1. 16%
  2. 5%
  3. 25%
  4. 9%

Q3. A shopkeeper allows 23% discount on his advertised price and still makes a profit of 10%. If he gains Rs.56 on one article his advertised price in Rs. is,

  1. 780
  2. 820
  3. 790
  4. 800

Q4. If there is a profit of $20{\%}$ on the cost price of an article, the percentage of profit calculated on its selling price will be,

  1. 20
  2. $8\frac{1}{3}$
  3. $16\frac{2}{3}$
  4. 24

Q5. A shopkeeper gains $20{\%}$ while buying the goods and $30{\%}$ while selling them. His total gain is,

  1. $36{\%}$
  2. $50{\%}$
  3. $40{\%}$
  4. $56{\%}$

Q6. A discount of $15{\%}$ on one article is same as discount of $20{\%}$ on another article. The costs of two articles can be,

  1. 60, 40
  2. 85, 60
  3. 80, 60
  4. 40, 20

Q7. A trader sells two bullocks for Rs.8400 each neither losing nor gaining in total. If he sold one of the bullocks at $20{\%}$ profit, the other is sold at a loss of,

  1. $21{\%}$
  2. $20{\%}$
  3. $14\frac{2}{7}{\%}$
  4. $18\frac{2}{9}{\%}$

Q8. Ramu buys a plot of land for Rs.96000. He sells $\frac{2}{5}$ths of the land at a loss of $6{\%}$. He wants now to make a profit of $10{\%}$ on the whole transaction by selling the remaining land. At what percentage profit should he sell his remaining land?

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

Q9. A trader marked his goods at $20{\%}$ above the cost price of Rs.245346. He sold half the stock at the marked price, one quarter at a discount of $20{\%}$ on the marked price and the rest at a discount of $40{\%}$ on the marked price. His total gain is,

  1. $2{\%}$
  2. $15{\%}$
  3. $4.5{\%}$
  4. $13.5{\%}$

Q10. While selling a watch a shopkeeper gives a discount of $5{\%}$. If he gives a discount of $6{\%}$ he earns Rs.15 less as profit. What is the marked price of the watch?

  1. Rs.1500
  2. Rs.1200
  3. Rs.1400
  4. Rs.750

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.

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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 a difficult SSC CGL level Profit and Loss problem in a few steps 4

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