If you are preparing for the SSC MTS exam, you simply cannot ignore the Quantitative Aptitude section. In Session 1, Math plays a big role, and Profit and Loss carries a heavy weightage of 2 to 3 direct questions. Many students fear math, but the exam only asks basic 10th-grade-level questions about daily buying and selling. These are easy, free marks! To make your preparation simple, we have provided exam-level Profit and Loss questions with detailed solutions below. Practicing these, along with attempting our free topic tests, will definitely help you master this subject easily and quickly.
What is Profit and Loss? (Explained in Simple Words)
You do not need to memorize a full book of math formulas to pass this section. Profit and Loss is just about daily life shopping. Let us learn the basic names first:
- Cost Price (CP): The money you pay to buy an item from the market. This is your buying price.
- Selling Price (SP): The money you get when you sell that item to someone else.
- Profit (Gain): If you sell an item for more money than you bought it, you make a profit. (Example: Buy for ₹100, sell for ₹120. Profit is ₹20).
- Loss: If you sell an item for less money than you bought it, you suffer a loss. (Example: Buy for ₹100, sell for ₹80. Loss is ₹20).
The Golden Rule: Always remember, whether you calculate Profit Percentage or Loss Percentage, it is ALWAYS calculated on the Cost Price (CP). Your buying price is your base.
To make questions super easy in the exam, always assume your Cost Price (CP) is 100. If there is a 20% profit, the Selling Price becomes 120. If there is a 10% loss, the Selling Price becomes 90.
Important Profit and Loss Questions for SSC MTS
Now you have understood the basics. But just reading theory is not enough. To score good marks, you must practice real exam-level questions. Grab a pen and solve these top Profit and Loss questions to check your speed. Also, you can download the free PDF to practice more questions.
Q1. An article is bought for ₹400 and sold for ₹500. What is the profit percentage?
(A) 20%
(B) 25%
(C) 30%
(D) 15%
Answer: (B) 25%
Explanation: Cost Price (CP) = 400. Selling Price (SP) = 500. Profit = 500 – 400 = 100. Profit % = (Profit / CP) × 100. So, (100 / 400) × 100 = 1/4 × 100 = 25%.
Q2. A man buys a watch for ₹200 and sells it for ₹160. Find his loss percentage.
(A) 10%
(B) 15%
(C) 20%
(D) 25%
Answer: (C) 20%
Explanation: CP = 200. SP = 160. Loss = 200 – 160 = 40. Loss % = (Loss / CP) × 100. So, (40 / 200) × 100 = 1/5 × 100 = 20%.
Q3. A shopkeeper sells a bag for ₹600 and makes a profit of 20%. What is the cost price of the bag?
(A) ₹400
(B) ₹480
(C) ₹500
(D) ₹550
Answer: (C) ₹500
Explanation: Let the CP be 100%. Since there is a 20% profit, the SP becomes 120%. The question says SP is ₹600. So, 120% = 600. Then 1% = 5. Cost Price (100%) = 100 × 5 = ₹500.
Q4. The cost price of 15 pens is equal to the selling price of 12 pens. What is the profit percentage?
(A) 15%
(B) 20%
(C) 25%
(D) 30%
Answer: (C) 25%
Explanation: A simple trick: 15 CP = 12 SP. This means CP / SP = 12 / 15. So, assume he bought it for ₹12 and sold it for ₹15. Profit = 15 – 12 = 3. Profit % = (3 / 12) × 100 = 1/4 × 100 = 25%.
Q5. By selling a mobile phone for ₹9,000, a man suffers a loss of 10%. At what price should he sell it to make a profit of 10%?
(A) ₹10,000
(B) ₹11,000
(C) ₹10,500
(D) ₹12,000
Answer: (B) ₹11,000
Explanation: A 10% loss means he sold it for 90% of the value. So, 90% = ₹9,000. This means 1% = ₹100. He wants a 10% profit, so the new selling price should be 110%. New SP = 110 × 100 = ₹11,000.
Q6. A shirt is marked at ₹800. The shopkeeper gives a discount of 20%. What is the selling price?
(A) ₹600
(B) ₹640
(C) ₹680
(D) ₹720
Answer: (B) ₹640
Explanation: Discount is always calculated on the Marked Price (MP). 20% of 800 = 160. Selling Price = Marked Price – Discount = 800 – 160 = ₹640.
Q7. Ravi buys lemons at 5 for ₹10 and sells them at 4 for ₹10. What is his profit percentage?
(A) 20%
(B) 25%
(C) 10%
(D) 30%
Answer: (B) 25%
Explanation: CP of 1 lemon = 10 / 5 = ₹2. SP of 1 lemon = 10 / 4 = ₹2.5. Profit = 2.5 – 2 = 0.5. Profit % = (0.5 / 2) × 100 = 25%.
Q8. A dishonest milkman says he sells his milk at the cost price, but he mixes water and uses a 900 ml measure instead of 1 litre. What is his profit percentage?
(A) 10%
(B) 11.11%
(C) 9%
(D) 12.5%
Answer: (B) 11.11%
Explanation: He promises to give 1000 ml but actually gives only 900 ml. He saves 100 ml on every 900 ml he sells. Profit % = (Error / True value given) × 100 = (100 / 900) × 100 = 1/9 × 100 = 11.11%.
Q9. A chair is sold at a profit of 10%. If it had been sold for ₹60 more, the profit would have been 15%. What is the cost price of the chair?
(A) ₹1,000
(B) ₹1,200
(C) ₹1,500
(D) ₹800
Answer: (B) ₹1,200
Explanation: The difference in profit percentage is 15% – 10% = 5%. This 5% extra profit is equal to ₹60. If 5% = 60, then 1% = 12. Cost Price (100%) = 100 × 12 = ₹1,200.
Q10. Two successive discounts of 10% and 20% are given on an item. What is the total single equivalent discount?
(A) 30%
(B) 25%
(C) 28%
(D) 22%
Answer: (C) 28%
Explanation: Let the original price be 100. After a 10% discount, the price becomes 90. Now, a 20% discount is given on 90. 20% of 90 = 18. Final price = 90 – 18 = 72. Total discount = 100 – 72 = 28%.
5 Simple Tips to Prepare Profit and Loss for SSC MTS
You do not need to be a math genius to score full marks in this topic. Just keep a cool head and follow these 5 easy tips:
- Always Assume 100: If the question does not give you an original price, simply assume the Cost Price is 100. It makes adding profits and subtracting losses super easy.
- CP is the Boss: Always remember that Profit Percentage and Loss Percentage are calculated on the Cost Price (CP) at the bottom. Never divide by Selling Price unless the question strictly tells you to.
- Memorize Fraction Values: Know that 20% is 1/5, 25% is 1/4, and 16.66% is 1/6. If you remember these basic fractions, you can solve questions in seconds without doing long multiplication.
- Discount Rule: Remember that “Discount” is different from Loss. A discount is always given on the Marked Price (the price tag on the shirt), not on the Cost Price.
- Practice Previous Year Papers: SSC MTS repeats the same pattern of Math questions every single year. Solve the previous year’s Profit and Loss questions. You will see that they are very basic and highly repetitive.
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FAQs: Profit and Loss Questions for SSC MTS Exam
No, not at all! The math section in the SSC MTS exam is strictly of 10th-pass level. The profit and loss questions check your daily-life calculation logic, not high-level algebra.
You can comfortably expect 2 to 3 direct questions from this single topic in the Numerical and Mathematical Ability section.
Absolutely not! Profit and Loss is a logical topic. If you understand the basic concept of 100 base percentage, you will not need any complex formulas.
Yes. Questions asking for single equivalent discounts or marked price calculations are a sub-part of Profit and Loss, and they are frequently asked in the MTS exam.
The best way to save time is by learning basic percentage-to-fraction conversions (like 25% = 1/4). This lets you cut down on rough work and do mental math.
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