Profit and Loss – Complete Guide for CUET UG GAT 2026 | Formula, Tricks, MCQs with Solutions

Introduction to Profit and Loss

Profit and Loss Formulas, Tricks and MCQs for CUET UG GAT 2026 are one of the most important topics in Quantitative Aptitude for competitive exams like CUET UG GAT 2026, SSC, Banking, and other entrance tests. Questions from this topic are frequently asked because they test your understanding of basic arithmetic, percentages, and commercial calculations.

In real life, Profit and Loss concepts are used in business, shopkeeping, accounting, and financial decision-making. Therefore, mastering this topic not only helps in exams but also in everyday calculations.

If you are preparing for CUET UG GAT 2026, then learning Profit and Loss formulas, tricks, and patterns can significantly improve your score.

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What is Profit and Loss?

Profit occurs when the Selling Price (SP) is greater than the Cost Price (CP).

Loss occurs when the Selling Price (SP) is less than the Cost Price (CP).

Basic Definitions

• Cost Price (CP): Price at which an item is purchased
• Selling Price (SP): Price at which an item is sold
• Profit: SP − CP
• Loss: CP − SP

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Important Profit and Loss Formulas

Profit = SP − CP
Loss = CP − SP

Profit % = (Profit / CP) × 100
Loss % = (Loss / CP) × 100

Selling Price = CP × (100 + Profit %) / 100
Selling Price = CP × (100 − Loss %) / 100

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Why Profit and Loss MCQs are Important for CUET UG GAT 2026

1. High Scoring Topic
2. Frequently Asked Questions
3. Easy to Learn with Practice
4. Improves Calculation Speed
5. Strong Foundation for Business Mathematics

In CUET UG GAT, usually 1–2 questions are asked from Profit and Loss every year. Therefore, mastering this topic can directly increase your final score.

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Short Tricks to Solve Profit and Loss Questions Quickly

Trick 1: Profit Percentage Shortcut

If
CP = 100

Then
Profit % = Profit amount

Example:
SP = 120

Profit = 20

Profit % = 20%

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Trick 2: Successive Discount / Loss Trick

If loss is 20%

Then

SP = 80% of CP

Example:

CP = 500

Loss = 20%

SP =

500 × 80 / 100

SP = 400

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Trick 3: Marked Price and Discount Trick

SP = MP × (100 − Discount) / 100

Very useful in shopkeeper questions.

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Common Patterns of Profit and Loss Questions in CUET

1. Discount and Marked Price
2. Successive Profit and Loss
3. Dishonest Shopkeeper
4. Profit Based on Percentage
5. Cost Price and Selling Price Relationship
6. Partnership and Business Profit

These patterns appear regularly in CUET UG GAT exams.

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Profit and Loss MCQs with Answers and Solutions

Q 4346) A shopkeeper bought an item for ₹800 and sold it for ₹960. Find the profit percentage.

(A) 10%
(B) 12%
(C) 15%
(D) 20%

Answer: (D) 20%

Solution

Profit

= 960 − 800

= 160

Profit %

= (160 / 800) × 100

= 20%

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Q 4347) A trader sold an article at 10% loss for ₹450. Find the cost price.

(A) 420
(B) 450
(C) 500
(D) 570

Answer: (C) 500

Solution

SP = 450

Loss = 10%

CP

SP × 100 / 90

= 450 × 100 / 90

= 500

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Q 4348) If the cost price of 20 articles is equal to the selling price of 16 articles, find the profit percentage.

(A) 20%
(B) 22.5%
(C) 25%
(D) 27.5%

Answer: (C) 25%

Solution

Let

CP of 1 article = 1

Then

CP of 20 = 20

SP of 16 = 20

SP of 1

= 20 / 16

= 1.25

Profit

= 0.25

Profit %

= 25%

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Q 4349) A shopkeeper marks his goods 40% above cost price and gives a 20% discount. Find the profit percentage.

(A) 10%
(B) 10.33%
(C) 11%
(D) 12%

Answer: (D) 12%

Solution

Let

CP = 100

MP = 140

Discount = 20%

SP

= 140 × 80 / 100

= 112

Profit

= 12

Profit %

= 12%

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Q 4350) A dishonest shopkeeper uses a 900 g weight instead of 1 kg and sells goods at cost price. Find the profit percentage.

(A) 11%
(B) 11.11%
(C) 12%
(D) 12.22%

Answer: (B) 11.11%

Solution

Actual weight

= 1000 g

Given weight

= 900 g

Profit

= 100 g

Profit %

= 100 / 900 × 100

= 11.11%

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Common Mistakes Students Make in Profit and Loss

1. Using wrong base value
2. Confusing profit and loss formulas
3. Calculation errors
4. Ignoring percentage conversion
5. Not reading question carefully

Avoiding these mistakes can significantly improve accuracy.

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FAQs on Profit and Loss for CUET UG GAT 2026

What is the most important formula in Profit and Loss?

The most important formula is:

Profit % = (Profit / Cost Price) × 100

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How many questions come from Profit and Loss in CUET UG GAT?

Usually:

1 to 2 questions

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Is Profit and Loss easy for CUET UG GAT?

Yes. It is considered one of the easiest and highest-scoring topics in Quantitative Aptitude.

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What is the fastest way to solve Profit and Loss questions?

Use:

Assume Cost Price = 100

This simplifies percentage calculations.

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Are Profit and Loss questions based on Percentage?

Yes. Most Profit and Loss questions are directly related to Percentage calculations.

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Conclusion

Profit and Loss is a fundamental topic in Quantitative Aptitude and plays a crucial role in CUET UG GAT 2026 preparation. With proper understanding of formulas, shortcuts, and practice of high-level MCQs, students can easily score full marks from this section.

Regular practice, concept clarity, and speed calculation are the keys to mastering Profit and Loss questions.

If you want to improve your performance in CUET UG GAT 2026, make sure to revise formulas daily and practice a variety of question types.

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