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Profit And Loss
Math MCQs


Question :    The cost price of an article is $12, and the sale price is $15. Find the profit and profit percent.


Correct Answer  $3 and 25%

Solution & Explanation

Solution

Given, Cost price (CP) = $12

Sale price (SP) = $15

Therefore, profit and profit % = ?

Calculation of profit, when cost price and sale price is known

Profit = Sale Price – Cost Price

∴ Profit = $15 – $12

⇒ Profit = $3

Calculation of profit% using formula, when profit and cost price is known

Profit% = Profit × 100/Cost price

Here, profit = $3

And, Cost Price = $12

∴ Profit% = 3 × 100 25/12 4

⇒ Profit = 25%

Therefore, Profit = $3 and Profit% = 25% Answer

Calculation of profit% using Unitary Method, when profit and cost price is known

Here, profit = $3

And, Cost Price = $12

∵ In $12, profit = $3

∴ In $1, profit = 3/12

∴ In $100, profit = 3/12 × 100

= 3 × 100/12

= 300/12

= 25%

Therefore, profit = 25%

Therefore, Profit = $3 and Profit% = 25% Answer


Similar Questions

(1) If John buys 68 pencils for $1 and sells them at a rate of 67 per $1 then calculate the profit percent in this selling.

(2) Find the cost price if a broker earned 375% while dealing a house for $35197.50

(3) Find the earnings percentage if a peddler buys 51 articles for $1 and sells 50 articles for $1.

(4) A dealer loses 58% by selling an article for $1159.20. For how much should he sell it to get a profit of 57%?

(5) William loses 33% by selling an article for $1011.70. For how much should he sell it to get a profit of 32%?

(6) Mr. Steven loses 95% by selling an article for $230.50. For how much should he sell it to get a profit of 94%?

(7) What was the cost price, if a trader earns a profit of 340% by selling a plot for $29524.00?

(8) Mrs. Mary earns a profit of 230% after selling an article for $14883. Find the cost price.

(9) Find the cost price, if a dealer earns a profit of 305% by selling a plot for $24340.50

(10) A shopkeeper gets a loss of 10% by selling an article for $324. For how much should he sell it to get a profit of 9%?