Staff Selection Commission conducts SSC Combined Higher Secondary Level Examination almost every year to recruit candidates for various posts of Data Entry Operator and Lower Division Clerk in central government departments. The SSC – CHSL Written Examination comprise 200 questions divided in 4 different sections -- General Intelligence, General Awareness, Quantitative Aptitude, and English Language.
The Quantitative Aptitude Section of SSC - Combined Higher Secondary Level Examination contains 50 questions from topics like Percentage; Profit, Loss & Discount; Simple Interest & Compound Interest; Simplification; Geometry; Trigonometry; etc. Though this section is quite a challenging in nature, it is considered as the most scoring area according to the paper.
Here, the SSC experts of Jagranjosh.com have provided with the description of Profit, Loss & Discount chapter to let you understand the basic concept of the subject.
Profit, Loss & Discount
Profit and Loss is an extension of the chapter of percentages. It is a very important branch of basic Mathematics. This branch deals with the study of Profit and loss made in any commercial transaction.
Some Basic terms used in Profit and loss are:
Cost price – The price, at which an article is purchased, is called Cost price and it is abbreviated by C.P.
Selling Price – The price, at which an article is sold, is called its selling price and it is abbreviated by S.P.
If S.P. > C.P., then seller is said to have a profit.
If SP < CP, Then seller is said to have incurred a loss.
Marked Price (M.P.) : The markup price above Cost price at which Discount is given.
Questions From Previous year Questions Paper
1. By selling 33 meters of cloth, a person gains the cost of 11 meters. Find his gain %. (SSC Combined Higher Secondary Exam 2012)
2. If a man were to sell his wrist-watch for Rs. 720, he would lose 25%. What price must he sell at to gain 25%? (SSC Combined Higher Secondary Exam 2012)
Solution: CP of watch= 720/.75=960
SP for 25% gain= 960 x 1.25=1200