Question:
A hawker buys 10 articles for $1 and sells 9 articles for $1 then, find the profit percent.
Correct Answer
11.11%
Solution And Explanation
Solution
Given,
The Cost Price (CP) for 10 articles = $1
The Sale Price (SP) for 9 articles = $1
Thus, Profit percent = ?
Unitary Method to find the profit when Cost Price and Sale Price are given
∵ The Cost Price (CP) for 10 articles = $1
Therefore, the Cost Price (CP) for 1 lemon = 1/10
∵ The Sale Price (SP) for 9 articles = $1
Therefore, the Sale Price (SP) for 1 lemon = 1/9
Calculation of profit
Profit = Sale Price (SP) – Cost Price (CP)
= 1/9 – 1/10
= 10 – 9/90
⇒ Profit = 1/90
Calculation of Profit Percent using Unitary Method
∵ When the Cost Price (CP) is 1/10, the the profit = 1/90
∴ When the Cost Price (CP) is 1, then the profit
= 1/90/1/10
= 1/90 × 10/1
∴ When the Cost Price (CP) is 100, then the profit
= 1/90 × 10/1 × 100
= 1 × 10 × 100/90 × 1
= 1000/90 = 11.11
Thus, Profit = 11.11% 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 10 articles = $1
And, the Sale Price (SP) of 9 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 10 and 9 = 90
Now, Let total number of articles purchased = 90
Here, since the Cost Price of 10 articles = $1
∴ the Cost Price of 1 articles = 1/10
Therefore, the Cost Price of 90 articles
= 1/10 × 90⇒ The Cost Price (CP) of 90 articles = $9And, since the Sale Price of 9 articles = $1
∴ The Sale Price (SP) of 1 article = 1/9
Therefore, the Sale Price of 90 articles
= 1/9 × 90 = $10
⇒ The Sale Price (SP) of 90 articles = $10
Now, the Cost Price (CP) of 90 articles = $9
And, the Sale Price (SP) of 90 articles = $10
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)
= 10 – 9 = 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 × 100/9
= 100/9 = 11.11
Thus, profit = 11.11% Answer
Similar Questions
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(3) What will be profit percent if a peddler buys 12 kiwis for $1 and sells 11 kiwis for $1?
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