mcqs Math Profit And Loss If a hawker bought 23 apples per $1 and sold them at a rate of 22 apples per $1, then what would his profit percent be? 950

Try MCQ Test

Question: If a hawker bought 23 apples per $1 and sold them at a rate of 22 apples per $1, then what would his profit percent be?

(A)  5.69%
(B)  5.55%
(C)  4.55%
(D)  6.83%

Correct Answer 4.55%

Solution And Explanation

Solution

Given,

The Cost Price (CP) for 23 articles = $1

The Sale Price (SP) for 22 articles = $1

Thus, Profit percent = ?

Unitary Method to find the profit when Cost Price and Sale Price are given

∵ The Cost Price (CP) for 23 articles = $1

Therefore, the Cost Price (CP) for 1 lemon = ¹/₂₃

∵ The Sale Price (SP) for 22 articles = $1

Therefore, the Sale Price (SP) for 1 lemon = ¹/₂₂

Calculation of profit

Profit = Sale Price (SP) – Cost Price (CP)

= ¹/₂₂ – ¹/₂₃

= ^{23 – 22}/₅₀₆

⇒ Profit = ¹/₅₀₆

Calculation of Profit Percent using Unitary Method

∵ When the Cost Price (CP) is ¹/₂₃, the the profit = ¹/₅₀₆

∴ When the Cost Price (CP) is 1, then the profit

= ^¹/₅₀₆/_¹/₂₃

= ¹/₅₀₆ × ²³/₁

∴ When the Cost Price (CP) is 100, then the profit

= ¹/₅₀₆ × ²³/₁ × 100

= ^{1 × 23 × 100}/_{506 × 1}

= ²³⁰⁰/₅₀₆ = 4.55

Thus, Profit = 4.55% 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 23 articles = $1

And, the Sale Price (SP) of 22 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 23 and 22 = 506

Now, Let total number of articles purchased = 506

Here, since the Cost Price of 23 articles = $1

∴ the Cost Price of 1 articles = ¹/₂₃

Therefore, the Cost Price of 506 articles

= ¹/₂₃ × 506

⇒ The Cost Price (CP) of 506 articles = $22

And, since the Sale Price of 22 articles = $1

∴ The Sale Price (SP) of 1 article = ¹/₂₂

Therefore, the Sale Price of 506 articles

= ¹/₂₂ × 506 = $23

⇒ The Sale Price (SP) of 506 articles = $23

Now, the Cost Price (CP) of 506 articles = $22

And, the Sale Price (SP) of 506 articles = $23

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)

= 23 – 22 = 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}/₂₂

= ¹⁰⁰/₂₂ = 4.55

Thus, profit = 4.55% Answer