Profit And Loss
MCQs Math


Question:     Jack sold a TV set at $1584. If he purchased it at $1800, then calculate his loss and loss percent in this sale.


Correct Answer  Loss = $216 and 12%

Solution And Explanation

Solution

Given, Cost price (CP) = $1800

Sale price (SP) = $1584

Therefore, loss and loss % = ?

Calculation of loss, when cost price and sale price is known

Loss = Cost Price – Sale Price

∴ Loss = $1800 – $1584

⇒ Loss = $216

Calculation of loss percent using formula, when loss and cost price is known

Loss% = Loss × 100/Cost price

Here, Loss = $216

And, Cost Price = $1800

∴ Loss% = 216 × 100/1800

= 216 12/18 = 12%

⇒ Loss = 12%

Therefore, Loss = $216 and Loss% = 12% Answer

Calculation of Loss% using Unitary Method, when loss and cost price is known

Here, loss = $216

And, Cost Price = $1800

∵ In $1800, loss = $216

∴ In $1, loss = 216/1800

∴ In $100, loss = 216/1800 × 100

= 18 × 12/18 × 100 × 100 = 12%

[∵ 216 = 18 × 12 and 1800 = 18 × 100]

⇒ Loss = 12%

Therefore, Loss = $216 and Loss% = 12% Answer


Similar Questions

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

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

(3) If a vendor bought 62 candies for $1 and sold 61 candies per $1 then find the profit percent.

(4) What is the cost price if a trader earns a profit of 155% by selling an article for $7675.50

(5) If after selling 5 bags of rice for $1297.20 a shopkeeper gets a loss of 8% then what was the cost price of the rice?

(6) Mr. Bobby earns a profit of 120% by selling a TV set for $5082. What was the cost price of the TV set?

(7) Find the cost price, if a trader gets a loss of 60% by selling five TV sets for $4724

(8) If a vendor buys 14 chocolates for $1 and sells 13 chocolates for $1 then, what is his profit percent?

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

(10) A trader loses 47% by selling an article for $1171.30. For how much should he sell it to get a profit of 46%?


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