Profit & Loss Most Expected Questions for SBI PO Exam

Profit and Loss For SBI PO Exam: Profit and Loss is a crucial topic in the quantitative aptitude section of the SBI PO exam. It is a fundamental mathematical concept essential for tackling questions in the quantitative aptitude section. This article provides a selection of the most commonly asked questions on profit and loss, along with free mock tests and preparation tips. The included PDF of expected questions features detailed solutions for better understanding.

What is Profit and Loss

Profit

Profit occurs when the selling price (SP) of an item is more than its cost price (CP). It is the financial gain made by the seller on a transaction.

Loss
Loss occurs when the selling price (SP) of an item is less than its cost price (CP). It is the financial loss made by the seller on a transaction.

Profit and Loss Formula

Some basic terms, associated with profit and loss:

Cost price (CP) = The price for which a commodity/article is bought is called cost price.

Selling price (SP) = The price for which a commodity/article is sold is called the selling price.

Profit/Gain = The difference (SP – CP) between the selling price and the cost price is called the profit.

Loss = The difference (CP – SP) between cost price and selling price is called loss.

Marked price (MP) = The price at which a seller has labelled an article is called marked price.

Discount = The reduction made on the marked price of the article is called a discount.

Some important formulae associated with profit and loss.

1. Profit = SP – CP

2. Loss = CP – SP

3. Profit percentage = {(Profit)/Cost price} × 100

4. Loss percentage = {(Loss)/Cost price} × 100

5. Discount allowed = MP – SP

6. Discount percentage = (discount allowed/marked price) × 100

Special case:

If an article is sold at cost price, but using a false weight, then the overall profit percentage;

= {(100 + Gain%)/100} = {(True Scale or Weight) ÷ (False Scale or Weight)}

Important Questions PDF link For Profit and Loss

Question 1: A shopkeeper marked an article at ‘x’% above the cost price and sold it after two consecutive discounts of 20% and 10%. In this transaction, he had a profit of Rs. 360. Find the value of ‘x’ if the marked price of the article is Rs. 6,750.

A) 45

B) 50

C) 55

D) 60

E) None of these

Question 2: Abhishek buys a second hand book for Rs. 725, spends some amount on its binding, marks it up by 20% and sells it to Rakesh at a discount of 25%. Rakesh spends the same amount on it as spent by Abhishek on binding and sells it for Rs. 1182 at a profit of 20%. What is the amount spent by Abhishek on binding the book?

A) Rs. 125

B) Rs. 250

C) Rs. 225

D) Rs. 175

E) None of these

Question 3: A man sold an article at 20% profit, after offering a discount of 20%. If the marked price of the article is Rs. 180 more than its cost price, then find the selling price of the article.

A) Rs. 432

B) Rs. 464

C) Rs. 398

D) Rs. 472

E) None of these

Question 4: A shopkeeper marks up an item by 75% and offers a discount of 20%. The profit earned by the shopkeeper is what percentage more or less than the profit earned by him if he marks up the same item by 50% and offers a discount of 20%?

A) 25%

B) 50%

C) 75%

D) 100%

E) None of these

Preparation Tips for SBI PO Profit and Loss

Understand the Basic: Candidates should first check their basic knowledge about SBI PO profit and loss, understand all the formulas, and begin preparation with practice questions.

Work on Speed and Accuracy: Candidates should use shortcut techniques to enhance their speed and accuracy. They can note down all the formulas and solve multiple questions to improve their question-solving speed and accuracy.

Solve Previous Year Questions: Candidates can solve the SBI PO previous year’s paper and know whats the Profits and loss Question pattern.

Take Mock Tests: Regularly attempt mock tests to simulate exam conditions. Analyze your performance and focus on weak areas.

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