Profit & Loss Guide & Practice
Master cost price, selling price, markup, discount calculations, successive discount tricks with solved problems and free mock practice papers. Explore dynamic solver blueprints, master fundamental equations, examine step-by-step solved examples, and practice with real exam-grade mock test sets.
Practice Question Papers
Practice Filters
1. Key Definitions & Terms
- Cost Price (CP): The price at which an article is purchased.
- Selling Price (SP): The price at which an article is sold.
- Marked Price (MP): The price printed on the label (List Price).
- Profit (Gain): Occurs when
SP > CP. - Loss: Occurs when
CP > SP. - Markup: The difference between Marked Price and Cost Price (
MP - CP). - Discount: The reduction offered on the Marked Price (
MP - SP).
2. Core Formulas
Basic Profit & Loss
- Profit =
SP - CP - Loss =
CP - SP - Profit % =
(Profit / CP) * 100 - Loss % =
(Loss / CP) * 100
Finding SP and CP
- SP =
CP * [(100 + Profit%) / 100] - SP =
CP * [(100 - Loss%) / 100] - CP =
[100 / (100 + Profit%)] * SP - CP =
[100 / (100 - Loss%)] * SP
Discount & Markup
- Discount % =
(Discount / MP) * 100 - Markup % =
(Markup / CP) * 100 - SP =
MP * [(100 - Discount%) / 100]
Special Cases
- Successive Discounts (x%, y%): Net Discount =
[x + y - (xy/100)]% - Dishonest Dealer (False Weights):
Gain % = [Error / (True Value - Error)] * 100 - Two items sold at same SP (one at x% profit, one at x% loss):
Always a Loss % = (x / 10) ^ 2
Typical Exam Weightage
| Exam | Typical Questions |
|---|---|
| SSC (CGL / CHSL / MTS) | 1–2 questions |
| Banking (IBPS / SBI) | 1–3 questions |
| Railways (RRB) | 1–2 questions |
A staple arithmetic topic in every SSC and Banking prelims-level paper — consistently present across recent years.
Figures are typical ranges based on recent-year patterns, not a guarantee for any specific upcoming paper — always cross-check against the latest official syllabus and previous-year papers for Profit & Loss.
Solved Examples
Question: An article is bought for Rs. 200 and sold for Rs. 250. Find the profit percentage.
View Detailed Solution & ExplanationHide Explanation
- Profit =
250 - 200 = Rs. 50. - Profit % =
(50 / 200) * 100 = 25%.
Question: Marked price of a bat is Rs. 1000 and it is sold at a 20% discount. Find the selling price.
View Detailed Solution & ExplanationHide Explanation
- Discount =
1000 * 20% = Rs. 200. - SP =
1000 - 200 = Rs. 800.
Question: A T-shirt with MP Rs. 200 is sold after two successive discounts of 20% each. Find the final SP.
View Detailed Solution & ExplanationHide Explanation
- Method 1 (Stepwise):
200 - 20% = 160. Then160 - 20% = 128. - Method 2 (Formula): Net Discount =
20 + 20 - (20*20/100) = 36%. - Final SP =
200 * (100 - 36)% = Rs. 128.
Question: A shopkeeper uses a 900g weight instead of 1kg. Find his gain percentage.
View Detailed Solution & ExplanationHide Explanation
- Error =
1000g - 900g = 100g. - True Value - Error =
900g(The weight he actually gives). - Gain % =
(100 / 900) * 100 = 11.11%.
Question: A man gains 30% by selling an article. If he sells it at double the current selling price, what will be the new profit percentage?
View Detailed Solution & ExplanationHide Explanation
- Let CP = 100. Original SP = 130.
- New SP =
130 * 2 = 260. - New Profit =
260 - 100 = 160. - New Profit % =
(160 / 100) * 100 = 160%.