Profit And Loss
Math MCQs

Question :    Peter buys 5 articles for $1 and sells 4 articles for $1. Find the profit percent in this sale.

Correct Answer  25%

Solution & Explanation

Solution

Given,

The Cost Price (CP) for 5 articles = $1

The Sale Price (SP) for 4 articles = $1

Thus, Profit percent = ?

Unitary Method to find the profit when Cost Price and Sale Price are given

∵ The Cost Price (CP) for 5 articles = $1

Therefore, the Cost Price (CP) for 1 lemon = ¹/₅

∵ The Sale Price (SP) for 4 articles = $1

Therefore, the Sale Price (SP) for 1 lemon = ¹/₄

Calculation of profit

Profit = Sale Price (SP) – Cost Price (CP)

= ¹/₄ – ¹/₅

= ^{5 – 4}/₂₀

⇒ Profit = ¹/₂₀

Calculation of Profit Percent using Unitary Method

∵ When the Cost Price (CP) is ¹/₅, the the profit = ¹/₂₀

∴ When the Cost Price (CP) is 1, then the profit

= ^1/₂₀/_¹/5

= ¹/₂₀ × ⁵/₁

∴ When the Cost Price (CP) is 100, then the profit

= ¹/₂₀ × ⁵/₁ × 100

= ^{1 × 5 × 100}/_{20 × 1}

= ⁵⁰⁰/₂₀ = 25

Thus, Profit = 25% Answer

Method (2) to find the profit%

Finding the profit percent by taking LCM of the number of articles purchased and sold for the same price

Given, the Cost Price (CP) of 5 articles = $1

And, the Sale Price (SP) of 4 articles = $1

Here, we need to take the LCM of number of articles purchased and sold to make them uniform.

Calculation of the Cost Price (CP) and the Sale Price

The LCM of 5 and 4 = 20

Now, Let total number of articles purchased = 20

Here, since the Cost Price of 5 articles = $1

∴ the Cost Price of 1 articles = ¹/₅

Therefore, the Cost Price of 20 articles

And, since the Sale Price of 4 articles = $1

∴ The Sale Price (SP) of 1 article = ¹/₄

Therefore, the Sale Price of 20 articles

= ¹/₄ × 20 = $5

⇒ The Sale Price (SP) of 20 articles = $5

Now, the Cost Price (CP) of 20 articles = $4

And, the Sale Price (SP) of 20 articles = $5

Calculation of the Profit, when the Cost Price (CP) and the Sale Price (SP) are given

Formula to find the profit when the Cost Price (CP) and the Sale Price (SP) are given

Profit = Sale Price (SP) – Cost Price (CP)

= 5 – 4 = 1

⇒ Profit = $1

Calculation of Profit percent using the formula

Formula to calculate the profit percent

Profit percent = ^{Profit × 100}/_{Cost Price}

Thus, profit % = ^{1 × 100}/₄

= ¹⁰⁰/₄ = 25

Thus, profit = 25% Answer

Similar Questions

(1) Mr. Oliver loses 81% by selling an article for $742.90. For how much should he sell it to get a profit of 80%?

(2) Find the cost price, if a trader gets a loss of 1% by selling an article for $9.9

(3) If a shopkeeper loses 6% by selling some items for $150.40 then, for how much should he sell them to get a profit of 5%?

(4) Mr. Steven loses 93% by selling an article for $315.70. For how much should he sell it to get a profit of 92%?

(5) Find the cost price, if a share broker gets a loss of 27% by selling 200 shares for $3803.30.

(6) Find the cost price, if a trader earns a profit of 395% by selling an article for $38659.5

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

(8) By selling an article for $15443.50, Mrs. Linda earns a profit of 235%. What was the cost price?

(9) Mr. John earns a profit of 190% by selling a old car for $10759. For how much had he purchased that house?

(10) Calculate the profit in percent if Mr. John buys 67 articles for $1 and sells 66 articles for $1.