Question:
If a vendor purchased 73 coins for $1 and sells 72 coins for $1 then, find profit in percent.
Correct Answer
1.39%
Solution And Explanation
Solution
Given,
The Cost Price (CP) for 73 articles = $1
The Sale Price (SP) for 72 articles = $1
Thus, Profit percent = ?
Unitary Method to find the profit when Cost Price and Sale Price are given
∵ The Cost Price (CP) for 73 articles = $1
Therefore, the Cost Price (CP) for 1 lemon = 1/73
∵ The Sale Price (SP) for 72 articles = $1
Therefore, the Sale Price (SP) for 1 lemon = 1/72
Calculation of profit
Profit = Sale Price (SP) – Cost Price (CP)
= 1/72 – 1/73
= 73 – 72/5256
⇒ Profit = 1/5256
Calculation of Profit Percent using Unitary Method
∵ When the Cost Price (CP) is 1/73, the the profit = 1/5256
∴ When the Cost Price (CP) is 1, then the profit
= 1/5256/1/73
= 1/5256 × 73/1
∴ When the Cost Price (CP) is 100, then the profit
= 1/5256 × 73/1 × 100
= 1 × 73 × 100/5256 × 1
= 7300/5256 = 1.39
Thus, Profit = 1.39% 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 73 articles = $1
And, the Sale Price (SP) of 72 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 73 and 72 = 5256
Now, Let total number of articles purchased = 5256
Here, since the Cost Price of 73 articles = $1
∴ the Cost Price of 1 articles = 1/73
Therefore, the Cost Price of 5256 articles
= 1/73 × 5256⇒ The Cost Price (CP) of 5256 articles = $72And, since the Sale Price of 72 articles = $1
∴ The Sale Price (SP) of 1 article = 1/72
Therefore, the Sale Price of 5256 articles
= 1/72 × 5256 = $73
⇒ The Sale Price (SP) of 5256 articles = $73
Now, the Cost Price (CP) of 5256 articles = $72
And, the Sale Price (SP) of 5256 articles = $73
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)
= 73 – 72 = 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 × 100/72
= 100/72 = 1.39
Thus, profit = 1.39% Answer
Similar Questions
(1) Bill sold his bicycle at a profit of 15%. If he purchased that bicycle at $200 then find the sale price of the cycle.
(2) By selling a car for $4751.5 Mr. Aron earns a profit of 115%. For how much was he purchased his car?
(3) Bill sold a bicycle for $840. If he purchased it at $600, then calculate his profit and profit percent in this sale.
(4) Find the profit in percent if a vendor buys 65 articles for $1 and sells 64 articles for $1.
(5) What will be the cost price if a shopkeeper sells some clothes for $994 and earns a profit of 40%?
(6) If a trader gets a loss of 72% by selling 15 bags of apples for $3978.80 then find the cost price of the apples.
(7) Find the cost price, if Mr. Jojo earns a profit of 355% by selling some articles for $31895.5
(8) For how much should he sell the bicycle to get a profit of 19%, if a shopkeeper loses 20% by selling it for $688?
(9) A street seller buys 8 articles for $1 and sells 7 articles for $1. Find the profit percent in this sale.
(10) 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%?