Profit And Loss
Math MCQs

Question :    How much percent will John get if he buys 39 articles for $1 and sells at a rate of 38 articles per $1?

Correct Answer  2.63%

Solution & Explanation

Solution

Given,

The Cost Price (CP) for 39 articles = $1

The Sale Price (SP) for 38 articles = $1

Thus, Profit percent = ?

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

∵ The Cost Price (CP) for 39 articles = $1

Therefore, the Cost Price (CP) for 1 lemon = ¹/₃₉

∵ The Sale Price (SP) for 38 articles = $1

Therefore, the Sale Price (SP) for 1 lemon = ¹/₃₈

Calculation of profit

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

= ¹/₃₈ – ¹/₃₉

= ^{39 – 38}/₁₄₈₂

⇒ Profit = ¹/₁₄₈₂

Calculation of Profit Percent using Unitary Method

∵ When the Cost Price (CP) is ¹/₃₉, the the profit = ¹/₁₄₈₂

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

= ^{1/₁₄₈₂}/_¹/39

= ¹/₁₄₈₂ × ³⁹/₁

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

= ¹/₁₄₈₂ × ³⁹/₁ × 100

= ^{1 × 39 × 100}/_{1482 × 1}

= ³⁹⁰⁰/₁₄₈₂ = 2.63

Thus, Profit = 2.63% 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 39 articles = $1

And, the Sale Price (SP) of 38 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 39 and 38 = 1482

Now, Let total number of articles purchased = 1482

Here, since the Cost Price of 39 articles = $1

∴ the Cost Price of 1 articles = ¹/₃₉

Therefore, the Cost Price of 1482 articles

And, since the Sale Price of 38 articles = $1

∴ The Sale Price (SP) of 1 article = ¹/₃₈

Therefore, the Sale Price of 1482 articles

= ¹/₃₈ × 1482 = $39

⇒ The Sale Price (SP) of 1482 articles = $39

Now, the Cost Price (CP) of 1482 articles = $38

And, the Sale Price (SP) of 1482 articles = $39

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)

= 39 – 38 = 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}/₃₈

= ¹⁰⁰/₃₈ = 2.63

Thus, profit = 2.63% Answer

Similar Questions

(1) If Mr. Jobby buys 18 kiwis for $1 and sells them at a rate of 17 per $1 then what would be the profit percent?.

(2) Find the cost price, if a trader gets a loss of 73% by selling 100 bags of apples for $3890.70 then find the cost price of the apples.

(3) A shopkeeper loses 40% by selling an article for $1116.00. For how much should he sell it to get a profit of 39%?

(4) Find the cost price, if a trader gets a loss of 51% by selling 200 bags of rice for $4904.90

(5) Find the cost price, if a trader gets a loss of 58% by selling two TV sets for $4792.20

(6) 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?

(7) A dealer loses 56% by selling an article for $1170.40. For how much should he sell it to get a profit of 55%?

(8) Mr. Bose loses 97% by selling an article for $141.30. For how much should he sell it to get a profit of 96%?

(9) Mrs. Julie purchased 26 oranges for $1 and sold 25 oranges for $1. What will be his profit percentage??

(10) Mr. Peter earns a profit of 110% by selling goods for $4431.00. For how much was he purchased those goods?