Bank Exam Practice Material Series Page 6 | Profit & Loss Practice Set with Answers & Shortcut Tricks

 

 Bank Exam Practice Material Series – Page 6

Profit & Loss Practice Set with Answers & Shortcut Tricks

Shaktimatha Learning – Bank Exam Practice Hub
Learn Profit & Loss shortcut tricks, percentage methods, discount calculations, and fast aptitude solving techniques for Bank Exams, SSC, Railways, Insurance, and Competitive Exams.

 Importance of Profit & Loss in Bank Exams

Profit & Loss is one of the most important arithmetic topics in:

• Bank Exams
• SSC
• Railway Exams
• Insurance Exams

This section tests:

• Percentage calculations
• Business mathematics
• Logical analysis
• Fast calculation ability

🎯 Important Profit & Loss Concepts

Profit & Loss questions are mainly based on:

• Cost Price (CP)
• Selling Price (SP)
• Profit
• Loss
• Discount
• Percentage calculations

 Profit Formula

0

 Loss Formula

1

 Profit Percentage Formula

2

 Loss Percentage Formula

3

 Shortcut Tricks

Topic	Shortcut
Profit	SP > CP
Loss	CP > SP
10% Profit	Add 10% to CP
20% Loss	Reduce 20% from CP
Discount	MP − SP

📖 Practice Questions

Q1. A product is bought for ₹500 and sold for ₹600. Find profit.

Solution:

Profit = SP − CP

600 − 500

✅ Answer = ₹100

Q2. A chair is bought for ₹800 and sold for ₹720. Find loss.

Solution:

Loss = CP − SP

800 − 720

✅ Answer = ₹80

Q3. Find profit percentage if CP = ₹400 and SP = ₹500.

Solution:

Profit = 100

4

✅ Answer = 25%

Q4. Find loss percentage if CP = ₹1000 and SP = ₹900.

Solution:

Loss = 100

5

✅ Answer = 10%

Q5. A trader gains ₹200 on selling a product for ₹1200. Find cost price.

Solution:

CP = SP − Profit

1200 − 200

✅ Answer = ₹1000

Q6. A product is sold at 20% profit. CP = ₹500. Find SP.

Solution:

20% of 500 = 100

SP = 500 + 100

✅ Answer = ₹600

Q7. A product is sold at 10% loss. CP = ₹800. Find SP.

Solution:

10% of 800 = 80

SP = 800 − 80

✅ Answer = ₹720

Q8. Marked price = ₹1000. Discount = 20%. Find selling price.

Solution:

20% of 1000 = 200

SP = 1000 − 200

✅ Answer = ₹800

Q9. A shopkeeper buys 10 pens for ₹200 and sells them for ₹250. Find profit.

Solution:

Profit = 250 − 200

✅ Answer = ₹50

Q10. Find selling price if CP = ₹1500 and profit = 15%.

Solution:

15% of 1500 = 225

SP = 1500 + 225

✅ Answer = ₹1725

 Observation Tricks

Fast Methods:

• Convert percentages quickly
• Use direct profit/loss formulas
• Observe CP & SP relation
• Simplify calculations mentally

📖 Important Profit & Loss Formulas

Topic	Formula
Profit	SP − CP
Loss	CP − SP
Profit %	Profit/CP ×100
Loss %	Loss/CP ×100
Discount	MP − SP

🎯 Daily Practice Strategy

• Practice profit calculations
• Practice loss calculations
• Practice discount problems
• Revise percentage conversions
• Use mental maths shortcuts

This improves:

• Arithmetic solving speed
• Business maths understanding
• Competitive exam confidence

“Profit & Loss Becomes Easy When Percentages and Formulas Are Practiced Daily.”

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Bank Exam Practice Material Series