Profit And Loss
Math MCQs

Question :    Bill sold his bicycle at a profit of 15%. If he purchased that bicycle at $200 then find the sale price of the cycle.

Correct Answer  Sale Price = $230

Solution & Explanation

Solution

Given, Cost Price = $200

Profit % = 15%

Therefore, Sale Price = ?

Calculation of Sale Price after calculation of profit

Calculation of profit when cost price and profit% are given

Profit = Cost Price × Profit%

= $200 × 15%

= 200 × ¹⁵/₁₀₀

= 200 2 ¹⁵/₁₀₀

= 2 × 15 = $30

Thus, profit = $30

Calculation of Sale Price when profit and Cost Price are known

Sale Price = Cost Price + Profit

= $200 + $30 = $230

Thus, Sale Price of the bicycle = $230 Answer

Shortcut Trick to calculate Sale Price when cost price and profit percent are known

Here, Cost Price = $200

And profit = 15%

Therefore, Sale Price = Cost Price + (Profit% of Cost Price)

= 200 + (15% of 200)

= 200 + (¹⁵/₁₀₀ × 200 2)

= 200 + (15 × 2)

= 200 + 30 = 230

Thus, Sale Price = $230 Answer

Calculation of Sale Price (SP) using formula when Cost Price (CP) and profit percent are given

Sale Price (SP) = ^{100 + profit%}/₁₀₀ × Cost Price

= ^{100 + 15}/₁₀₀ × 200

= ¹¹⁵/₁₀₀ × 200 2

= 115 × 2 = 230

Therefore, Sale Price = $230 Answer

Similar Questions

(1) A dealer loses 21% by selling an article for $718.90. For how much should he sell it to get a profit of 20%?

(2) Find the cost price, if a trader gets a loss of 44% by selling 500 packets of fruits for $48210.60

(3) A share broker earns a profit of 400% by selling his shares for $39550. For how much had he purchased those shares?

(4) John loses 63% by selling an article for $1113.70. For how much should he sell it to get a profit of 62%?

(5) If a book seller gets a loss of 33% by selling 300 books for $4294.70 then find the cost price of the books.

(6) James loses 68% by selling an article for $1043.20. For how much should he sell it to get a profit of 67%?

(7) After selling an article for $1565.5 the shopkeeper earns a profit of 55%. For how much had he purchase that article?

(8) A peddler purchased 25 apples per $1 and sold them at a rate of 24 apples per $1. What will be the profit percent?

(9) For how much should he sell it to get a profit of 16%, if Mr. Bond loses 17% by selling a bicycle for $589.30?

(10) Bill sold his bicycle at a profit of 15%. If he purchased that bicycle at $200 then find the sale price of the cycle.