Profit and Loss is one of the most important and easier topics under SSC CGL 2018. Hence, Team SSCHacks has devised a SUPERHACK that would enable you to solve most of the questions related to Profit and Loss within seconds.
To understand, you must take a look at this formula, where:
SP = Selling price
CP = Cost Price
f = Profit/loss factor
What is this profit/loss factor ? It’s simple, ‘f’ depends on the profit/loss %
If profit% = 10, then f = 1.1
If profit% = 30, then f = 1.3
If profit% = 15, then f = 1.15
If loss% = 10, then f = 0.9
If loss% = 25, then f = 0.75
If loss% = 12.5, then f = 0.875
Please note that f depends on profit/loss percentage and not on the absolute value of Profit/Loss. So if in any question it is given that the profit is Rs. 30, then it doesn’t mean that f = 1.3
Now, let us take a look at some of the SSC CGL questions that can be solved with the help of this formula:
Let ‘s’ be the SP of 1 article and ‘c’ be the CP of 1 article.
Given, 6c = 4s
Therefore s/c = 1.5
Gain % = 50
Answer : (B)
Let ‘s’ be the SP of 1 metre of cloth and ‘c’ be the CP of 1 metre of
Total SP = 20s, Profit = 4s
CP = SP Profit
The ratio s/c = 20s/16s = 1.25
Gain % = 25
Answer : (C)
SP of 1 article(s) = Rs. 10/8 = 5/4
CP of 1 article(c) =Rs. 8/10 = 4/5
s/c = 25/16 = 1.5625
Gain % = 56.25
Answer : (A)
Q) 4. Kunal sold a shirt at a loss of 10%. Had he sold it for Rs 60 more, he would have gained 5% on it.
Find the CP of the shirt.
In this question, we have to find the CP of the article
c = s/f
From basic mathematics or elementary science, we know that putting delta (Δ) sign in numerator and denominator doesn’t change the equation. Δ stands for ‘change’
c = Δs/Δf where Δs = change in SP
Δf = change in factor
Therefore Δs = New SP-OldSP = Rs. 60
Δf = New factor-Old factor
The new factor is the factor when profit is 5%. The old factor is the one with loss = 10%
So Δf = 1.05-0.9= 0.15
c = Δs/Δf = 60/0.15 = Rs. 400
Answer: Rs 400
Hope this was easy !!
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