Profit and Loss Questions for Competitive Exams SSC CGL Set 1

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SSC CGL level Question Set 6, Profit and Loss

Profit and Loss Questions for Competitive Exams SSC CGL Set 1

First set of Profit and loss questions for SSC CGL

Solve the 10 selected profit and loss questions for competitive exams SSC CGL Set 1 in 12 mins. Verify from answers. Learn how to solve from solutions.

IMPORTANT: After taking the test, DO CLARIFY DOUBTS and learn how to solve the questions quickly from the paired solution set.

Link of the solution set and answers to the questions are at the end.

First set of 10 Profit and loss questions for SSC CGL - answering 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

Clarify your doubts from the solutions of the questions,

SSC CGL level solution set 6 on profit and loss 1.


Answers to the questions

Q1. Answer: Option c: Rs.500.

Q2. Answer: Option b: $5{\%}$.

Q3. Answer: Option d: 800.

Q4. Answer: Option c: $16\frac{2}{3}$.

Q5. Answer: Option d: $56{\%}$.

Q6. Answer: Option c : 80, 60.

Q7. Answer: Option c : $14\frac{2}{7}{\%}$.

Q8. Answer: Option d: $20\frac{2}{3}{\%}$.

Q9. Answer: Option a: $2{\%}$.

Q10. Answer: Option a : Rs.1500.


Resources that should be useful for you

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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.

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