Profit And Loss
Math MCQs

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

Correct Answer  4.17%

Solution & Explanation

Solution

Given,

The Cost Price (CP) for 25 articles = $1

The Sale Price (SP) for 24 articles = $1

Thus, Profit percent = ?

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

∵ The Cost Price (CP) for 25 articles = $1

Therefore, the Cost Price (CP) for 1 lemon = ¹/₂₅

∵ The Sale Price (SP) for 24 articles = $1

Therefore, the Sale Price (SP) for 1 lemon = ¹/₂₄

Calculation of profit

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

= ¹/₂₄ – ¹/₂₅

= ^{25 – 24}/₆₀₀

⇒ Profit = ¹/₆₀₀

Calculation of Profit Percent using Unitary Method

∵ When the Cost Price (CP) is ¹/₂₅, the the profit = ¹/₆₀₀

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

= ^1/₆₀₀/_¹/25

= ¹/₆₀₀ × ²⁵/₁

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

= ¹/₆₀₀ × ²⁵/₁ × 100

= ^{1 × 25 × 100}/_{600 × 1}

= ²⁵⁰⁰/₆₀₀ = 4.17

Thus, Profit = 4.17% 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 25 articles = $1

And, the Sale Price (SP) of 24 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 25 and 24 = 600

Now, Let total number of articles purchased = 600

Here, since the Cost Price of 25 articles = $1

∴ the Cost Price of 1 articles = ¹/₂₅

Therefore, the Cost Price of 600 articles

And, since the Sale Price of 24 articles = $1

∴ The Sale Price (SP) of 1 article = ¹/₂₄

Therefore, the Sale Price of 600 articles

= ¹/₂₄ × 600 = $25

⇒ The Sale Price (SP) of 600 articles = $25

Now, the Cost Price (CP) of 600 articles = $24

And, the Sale Price (SP) of 600 articles = $25

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)

= 25 – 24 = 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}/₂₄

= ¹⁰⁰/₂₄ = 4.17

Thus, profit = 4.17% Answer

Similar Questions

(1) If a peddler buys 46 articles for $1 and sells 45 articles for $1 then, find the earnings in percentage.

(2) If a hawker bought 22 apples per $1 and sold them at a rate of 21 apples per $1, then what would his profit percent be?

(3) If a dealer gets a loss of 75% by selling 200 boxes of apple for $3702.50 then find the cost price.

(4) Calculate the earnings percentage if a vendor buys 55 articles for $1 and sells 54 articles for $1.

(5) A trader loses 30% by selling an article for $952. For how much should he sell it to get a profit of 29%?

(6) 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%?

(7) By selling an article for $1125.30 a vendor gets a loss of 7%. Calculate the cost price.

(8) What is the cost price; if a trader earns a profit of 295% by selling some articles for $22949.50?

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

(10) A hawker buys 19 articles for $1 and sold then at the rate of 18 articles per $1. What was this profit percent?