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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(2) Find the cost price, if a trader gets a loss of 39% by selling 100 packets of fruits for $4642.10
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(4) Mr. John sold his scoory for $1465.10 and got a loss of 9%. What was the cost price of the scooty?
(5) If a dealer earns a profit of 260% by selling an article for $18396.00. Find the cost price.
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(7) Mr. Jack buys 13 articles for $1 and sells 12 articles for $1. Find his profit percent.
(8) John gets a 20% profit after selling his laptop for $372. What was the cost price of the laptop?
(9) Find the cost price, if a fruit seller gets a loss of 43% by selling 500 bags of fruits for $4793.70
(10) What will be the earnings in percent if a vendor buys 45 articles for $1 and sells 44 articles for $1?