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) Find the cost price, if a vendor gets a loss of 34% by selling some articles for $4362.60

(2) Find the cost price, if Mrs. Olivia earns a profit of 160% by selling some articles for $8086

(3) After selling a furniture for $481.60 a shopkeeper gets a loss of 14%. In order to get a profit of 13% he should sell in for how much?

(4) For how much should Mr. John sell it to get a profit of 3% if he loses 4% by selling an article for $57.60?

(5) If a dealer earns a profit of 260% by selling an article for $18396.00. Find the cost price.

(6) Noah loses 76% by selling an article for $878.40. For how much should he sell it to get a profit of 75%?

(7) What will be the cost price, if a trader gets a loss of 2% by selling an article for $205.80?

(8) What will the earnings in percent if a vendor buys 42 apples for $1 and sells at a rate of 41 apples per $1?

(9) By selling some items for $12741.00 a trader earns a profit of 210%. Find the cost price.

(10) A trader gets a loss of 52% by selling 500 bags of rice for $4900.80. Find the cost price of rice.