Over a period of time, it has been observed that Profit and Loss is the favourite topic of almost every candidate appearing for SSC CGL 2017.
Firstly, because it’s a hot topic and you get around 3-4 questions every year.
Secondly, the whole topic revolves around three concepts namely, Cost Price,Selling Price and Market Price.
The questions will move in a pattern of easy to difficult.
- The first one is a basic concept so that you get use to the terms CP,SP and MP.In these type of questions just assume the rational values to be the actual values and calculate the profit/loss asked with it.An easy beginning indeed!
- This is too simple a hack for a tricky question like this.You just have divide the increase/decrease by 100(+increase)(-decrease) and the resultant % is the answer.
- The next concept includes the questions that confuse you for their Cost Price itself.Easy these are although after this hack wherein you just have to compare them for the same cost price(a rupee in this case) and divide the difference in the quantity of article by the selling quantity and multiply this by 100 to get the answer.
- The questions under this concept always confuse you with their language.The simple plan is to take the SP as 100 and calculate CP with the help of the given loss/profit %age and then calculate the actual loss %age.Although easy but I have placed this later than other questions because most people in these questions get confused and end up getting a negative instead.
- The favourite ones indeed.Earlier these were lengthy questions for me as well and I understood their potential to ruin a complete section but after this simple hack I can finally breathe.The key here is to understand that the GAP created between the %ages is the value of the respective increase/decrease and then calculate it w.r.t 100% and the answer you attain after that is nothing but accurate!
- The final concept that we learn today is a simple and old trick to solve questions based on quantity rather than the price. Herein you need to do nothing and just divide the difference by the selling quantity and multiply this by 100 to get the answer!
These hacks are all for now!
But soon we will be back with more updates and hacks covering all topics possible. Post your queries to us.
Believe in Yourself.
All the best!
PS: Team SSCHacks recommends the following books to boost your preparation: