Profit and Loss Tricks: Discount, Marked Price and Successive Discount Questions for SSC CGL, CHSL

Profit and loss, with discount, is a regular 2 to 4 question topic in SSC CGL, CHSL and MTS maths. The questions look different, but they all use the same 4 formulas. These profit and loss tricks for SSC explain the terms, give the shortcut for each question type and solve the popular questions: marked price, successive discount, same selling price and false weight.

Basic Terms

Four Key Formulas

Profit and loss are always on the CP, and discount is always on the MP.

Shortcuts

Solved Examples

Example 1. CP is 250 rupees and SP is 300 rupees. Find the profit %.
Profit = 50. Profit % = 50/250 × 100 = 20%.

Example 2. The marked price is 1,200 rupees and the discount is 25%. Find the SP.
1,200 × 0.75 = 900 rupees.

Example 3. Find the single discount equal to successive discounts of 20% and 25%.
20 + 25 − (20 × 25)/100 = 45 − 5 = 40%.

Example 4. A shopkeeper marks goods 40% above the cost and gives a discount of 25%. Find the profit %.
40 − 25 − (40 × 25)/100 = 15 − 10 = 5%.

Example 5. The CP of 12 articles is equal to the SP of 10 articles. Find the profit %.
(12 − 10)/10 × 100 = 20%.

Example 6. Two articles are sold at 1,000 rupees each. One is sold at a profit of 25% and the other at a loss of 25%. Find the overall result.
Loss = 25²/100 = 6.25%.

Example 7. A shopkeeper uses a weight of 900 g in place of 1 kg. Find his profit %.
Error = 100 g. Profit % = 100/(1000 − 100) × 100 = 11.11%.

Example 8. By what % should an article be marked above the cost to gain 20% after a discount of 10%?
MP = CP × 120/90 = 1.333 CP, so the mark-up is 33⅓%.

Quick Tips

• Profit and loss use the CP, and discount uses the MP.
• Use the successive discount shortcut, and do not subtract twice.
• Remember that the same SP with an equal profit and loss % always gives a loss.
• Write the CP as 100 when the CP is not given.

Quick Revision Points

• Profit % = Profit/CP × 100.
• Discount % is on the marked price.
• Two discounts a and b = a + b − ab/100.
• Same SP with p% profit and p% loss gives a loss of p²/100 %.
• CP of x = SP of y gives a profit of (x − y)/y × 100.

Practice Questions With Answers

1. CP is 400 rupees and SP is 500 rupees. Find the profit %.
   Answer: 25%
2. CP is 600 rupees and the loss is 10%. Find the SP.
   Answer: 540 rupees
3. MP is 800 rupees and the discount is 15%. Find the SP.
   Answer: 680 rupees
4. Find the single discount equal to two successive discounts of 10% and 10%.
   Answer: 19%
5. An article is sold for 1,155 rupees at a profit of 10%. Find the CP.
   Answer: 1,050 rupees
6. The CP of 15 articles equals the SP of 12 articles. Find the profit %.
   Answer: 25%
7. A shopkeeper marks goods 50% above the cost and gives a discount of 20%. Find the profit %.
   Answer: 20%
8. Two articles are sold at the same price, one at a 20% profit and the other at a 20% loss. Find the overall result.
   Answer: A loss of 4%
9. A profit of 25% on the cost is what percent on the selling price?
   Answer: 20%
10. On which price is the discount calculated?
    Answer: The marked price

How to Practise This Chapter

Practise 10 questions every day and write the steps on paper. Then attempt timed sets from our practice papers and the previous year papers page. See all topics on the Mathematics notes page, read the previous topic Percentage Tricks and the next topic Simple and Compound Interest. Formulas are in the Formula Guide and more practice is in the Quantitative Aptitude notes.

Frequently Asked Questions

What is the formula of profit percentage?

Profit % = (Profit / CP) × 100.

On which price is the discount calculated?

The discount is calculated on the marked price.

What is the formula for two successive discounts?

Single discount = a + b − ab/100.

What happens when two articles are sold at the same price, with equal profit and loss percent?

There is always a loss of p squared divided by 100 percent.

How do I find the CP from the SP and the profit?

CP = SP × 100 / (100 + profit %).

What is a dishonest dealer question?

It is a question in which a trader uses a false weight, and the profit is found from the error.

What is the mark-up?

It is the percent by which the marked price is above the cost price.

What can I take as the CP if it is not given?

You can take the CP as 100 and solve the question in percentages.

Is profit and loss asked in SSC exams?

Yes. It is asked in every SSC maths paper.

What is the common mistake?

Calculating the profit on the selling price or the discount on the cost price.

How much time should I take?

About 40 seconds.

How is the final profit found when goods are marked up and then discounted?

Use the formula x − y − xy/100, where x is the mark-up % and y is the discount %.