Question:
If a vendor bought 20 apples per $1 and sold them at a rate of 19 apples per $1, then what would his profit percent be?
Correct Answer
5.26%
Solution And Explanation
Solution
Given,
The Cost Price (CP) for 20 articles = $1
The Sale Price (SP) for 19 articles = $1
Thus, Profit percent = ?
Unitary Method to find the profit when Cost Price and Sale Price are given
∵ The Cost Price (CP) for 20 articles = $1
Therefore, the Cost Price (CP) for 1 lemon = 1/20
∵ The Sale Price (SP) for 19 articles = $1
Therefore, the Sale Price (SP) for 1 lemon = 1/19
Calculation of profit
Profit = Sale Price (SP) – Cost Price (CP)
= 1/19 – 1/20
= 20 – 19/380
⇒ Profit = 1/380
Calculation of Profit Percent using Unitary Method
∵ When the Cost Price (CP) is 1/20, the the profit = 1/380
∴ When the Cost Price (CP) is 1, then the profit
= 1/380/1/20
= 1/380 × 20/1
∴ When the Cost Price (CP) is 100, then the profit
= 1/380 × 20/1 × 100
= 1 × 20 × 100/380 × 1
= 2000/380 = 5.26
Thus, Profit = 5.26% 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 20 articles = $1
And, the Sale Price (SP) of 19 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 20 and 19 = 380
Now, Let total number of articles purchased = 380
Here, since the Cost Price of 20 articles = $1
∴ the Cost Price of 1 articles = 1/20
Therefore, the Cost Price of 380 articles
= 1/20 × 380⇒ The Cost Price (CP) of 380 articles = $19And, since the Sale Price of 19 articles = $1
∴ The Sale Price (SP) of 1 article = 1/19
Therefore, the Sale Price of 380 articles
= 1/19 × 380 = $20
⇒ The Sale Price (SP) of 380 articles = $20
Now, the Cost Price (CP) of 380 articles = $19
And, the Sale Price (SP) of 380 articles = $20
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)
= 20 – 19 = 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 × 100/19
= 100/19 = 5.26
Thus, profit = 5.26% Answer
Similar Questions
(1) If a vendor buys 14 chocolates for $1 and sells 13 chocolates for $1 then, what is his profit percent?
(2) Find the earnings percentage if a vendor buys 52 articles for $1 and sells 51 articles for $1.
(3) Find the cost price, if a trader gets a loss of 61% by selling 4 TV sets for $4683.90
(4) A hawker buys 19 articles for $1 and sold then at the rate of 18 articles per $1. What was this profit percent?
(5) Mr. Jack buys 13 articles for $1 and sells 12 articles for $1. Find his profit percent.
(6) If a seller bought 24 apples per $1 and sold them at a rate of 23 apples per $1, then what would his profit percent be?
(7) If a trader gets a loss of 4% by selling an article for $585.60 then, find the cost price.
(8) Find the cost price, if a trader gets a loss of 67% by selling ten bags of apple for $4359.30
(9) Find the cost price, if a fruit seller gets a loss of 43% by selling 500 bags of fruits for $4793.70
(10) After selling some antique items for $6504 a trader earns a profit of 140%. Find the cost price of those antique items.