## Profit and loss practice set of 10 selected questions

The Profit and loss practice set of 10 questions in Profit and loss for SSC CGL Set 53 to be solved in 12 minutes. Verify answers. Learn from solutions.

Answers and link to the solutions are at the end.

### Selected Profit and loss questions for SSC CGL Set 53 - Answering time 12 mins

**Problem 1.**

A trader marks up a product he is selling for 20% profit. If he sells it at a discount of 15%, his net gain percentage is,

- 2%
- 2.5%
- 3.5%
- 4%

**Problem 2.**

A shopkeeper gives a discount of 7% while selling an item. If he had given a discount of 9% he would have got Rs.15 less as profit. The marked price for the item is then,

- Rs.750
- Rs.720
- Rs.600
- Rs.712.50

**Problem 3.**

A dishonest trader declares that he sells his goods at cost price, but actually he uses a false weight of 850 gm for 1 kg. His gain percent is,

- $17\frac{12}{17}$%
- $17\frac{11}{17}$%
- $11\frac{11}{17}$%
- $71\frac{11}{17}$%

**Problem 4. **

A man sells two articles for Rs.4000 each with no loss or no gain in the two transactions taken together. If one is sold at a gain of 25%, the other is sold at a loss of,

- $25$%
- $20$%
- $16\frac{2}{3}$%
- $18\frac{2}{9}$%

**Problem 5.**

A dishonest trader using a faulty balance makes a profit of 5% while buying as well as while selling his goods. His actual gain percent in the whole process amounts to,

- 10.25%
- 11%
- 10%
- 10.5%

**Problem 6.**

A loss of 19% gets converted to a profit of 17% when selling price is increased by Rs.162. The cost price of the article is,

- Rs.360
- Rs.450
- Rs.600
- Rs.540

**Problem 7.**

A fruit-seller makes a profit of 20% by selling oranges. If he charges Rs.1 more for each orange, he would be able to make a profit of 40%. The selling price of an orange in the first case is then,

- Rs.7
- Rs.5.5
- Rs.5
- Rs.6

**Problem 8.**

After 4 years of purchasing a house, the houseowner sold it for a price 25% more than the purchase price, but had to pay a tax of 50% of the gain. The tax amount as a percentage of the original purchase price is,

- $50$%
- $25$%
- $4\frac{1}{6}$%
- $12.5$%

**Problem 9.**

The marked price of a watch is Rs.1600. The shopkeeper gives two successive discounts to the customer, the first being 10%. If the customer pays Rs1224 for the watch, the second discount is,

- 5%
- 10%
- 20%
- 15%

**Problem 10.**

How much percent more than the cost price should a shopkeeper mark his goods so that after allowing a discount of 25% on the marked price, the gain is 20%?

- 60%
- 55%
- 50%
- 70%

To know how these problems are solved in quick time you should refer to the solution set,

**SSC CGL level Solution set 53 Profit and loss 4.**

### Answers to the Profit and loss questions for SSC CGL Set 53

**Problem 1.** **Answer:** Option a: 2%.

**Problem 2.** **Answer:** Option a : Rs.750.

**Problem 3.** **Answer:** Option b: $17\frac{11}{17}$%.

**Problem 4.** **Answer:** Option c: $16\frac{2}{3}$%.

**Problem 5.** **Answer:** Option a: 10.25%.

**Problem 6.** **Answer:** Option b : Rs.450.

**Problem 7.** **Answer:** Option d: Rs.6.

**Problem 8.** **Answer:** Option d: 12.5%.

**Problem 9.** **Answer:** Option d: 15%.

**Problem 10.** **Answer:** Option a: 60%.

**Resources that should be useful for you**

* 7 steps for sure success in SSC CGL tier 1 and tier 2 competitive tests* or

*to access all the valuable student resources that we have created specifically for SSC CGL, but*

**section on SSC CGL****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 withpermanent skillset improvement.

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