Questions related to profit and loss that can come in UGC net exam, but one each time with brief explanation, try to cover each types of questions

Certainly! Let's start with a question related to the basic concept of profit and loss.

### Question 1: Basic Profit Calculation

**Question:** A shopkeeper buys an article for ₹500 and sells it for ₹600. Calculate the profit and the profit percentage.

**Solution:**
1. **Profit Calculation:**
   \[
   \text{Profit} = \text{Selling Price} - \text{Cost Price}
   \]
   \[
   \text{Profit} = 600 - 500 = ₹100
   \]

2. **Profit Percentage Calculation:**
   \[
   \text{Profit Percentage} = \left(\frac{\text{Profit}}{\text{Cost Price}}\right) \times 100
   \]
   \[
   \text{Profit Percentage} = \left(\frac{100}{500}\right) \times 100 = 20\%
   \]

Thus, the profit made is ₹100, and the profit percentage is 20%.

Would you like more details or have any questions on this? Here are five more questions you can ask next:

1. How to calculate loss and loss percentage?
2. How to determine the selling price if the cost price and desired profit percentage are known?
3. How to find the cost price if the selling price and loss percentage are given?
4. How to calculate profit when there are multiple transactions?
5. What is the concept of markup and how is it different from profit?

**Tip:** When dealing with profit and loss, always ensure you clearly differentiate between the cost price and the selling price as it helps avoid confusion.

Explore essential profit and loss questions for the UGC NET exam. Includes detailed explanations and examples covering basic profit calculation, profit percentage, and related concepts. Perfect for UGC NET exam preparation.

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