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) William loses 71% by selling an article for $988.90. For how much should he sell it to get a profit of 70%?

(2) A hawker buys 10 articles for $1 and sells 9 articles for $1 then, find the profit percent.

(3) Find the cost price, if a dealer earns a profit of 305% by selling a plot for $24340.50

(4) Mr. Oliver loses 83% by selling an article for $681.70. For how much should he sell it to get a profit of 82%?

(5) Potter loses 91% by selling an article for $396.90. For how much should he sell it to get a profit of 90%?

(6) What is the cost price if Mrs. Norrah gets a profit of 165% by selling some items for $8506.5

(7) Find the cost price, if by selling some articles for $13792 a trader earns a profit of 220%

(8) If a vendor buys 7 lemons for $1 and sells 6 lemons for $1 then, what is the profit percent in this sale?

(9) A trader loses 42% by selling an article for $1136.80. For how much should he sell it to get a profit of 41%?

(10) After selling some items for $6884.50 Mr. Bob earns 145%. Find the cost price of those items.


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