Question:
( 1 of 10 ) Mr. Jojo buys 30 articles for $1 and sells 29 articles for $1. Find the profit in percent.
(A) 158.76 km
(B) 198.45 km
(C) 127.01 km
(D) 238.14 km
You selected
5.18%
Correct Answer
3.45%
Solution And Explanation
Solution
Given,
The Cost Price (CP) for 30 articles = $1
The Sale Price (SP) for 29 articles = $1
Thus, Profit percent = ?
Unitary Method to find the profit when Cost Price and Sale Price are given
∵ The Cost Price (CP) for 30 articles = $1
Therefore, the Cost Price (CP) for 1 lemon = 1/30
∵ The Sale Price (SP) for 29 articles = $1
Therefore, the Sale Price (SP) for 1 lemon = 1/29
Calculation of profit
Profit = Sale Price (SP) – Cost Price (CP)
= 1/29 – 1/30
= 30 – 29/870
⇒ Profit = 1/870
Calculation of Profit Percent using Unitary Method
∵ When the Cost Price (CP) is 1/30, the the profit = 1/870
∴ When the Cost Price (CP) is 1, then the profit
= 1/870/1/30
= 1/870 × 30/1
∴ When the Cost Price (CP) is 100, then the profit
= 1/870 × 30/1 × 100
= 1 × 30 × 100/870 × 1
= 3000/870 = 3.45
Thus, Profit = 3.45% 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 30 articles = $1
And, the Sale Price (SP) of 29 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 30 and 29 = 870
Now, Let total number of articles purchased = 870
Here, since the Cost Price of 30 articles = $1
∴ the Cost Price of 1 articles = 1/30
Therefore, the Cost Price of 870 articles
= 1/30 × 870⇒ The Cost Price (CP) of 870 articles = $29And, since the Sale Price of 29 articles = $1
∴ The Sale Price (SP) of 1 article = 1/29
Therefore, the Sale Price of 870 articles
= 1/29 × 870 = $30
⇒ The Sale Price (SP) of 870 articles = $30
Now, the Cost Price (CP) of 870 articles = $29
And, the Sale Price (SP) of 870 articles = $30
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)
= 30 – 29 = 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 × 100/29
= 100/29 = 3.45
Thus, profit = 3.45% Answer
Similar Questions
(1) Find the cost price, if Mrs. Olivia earns a profit of 160% by selling some articles for $8086
(2) Mrs. Julie purchased 27 oranges for $1 and sold 26 oranges for $1. What will be his profit percentage?
(3) Find the cost price, if Mrs. Julie earns a profit of 360% by selling some articles for $32706
(4) If a vendor buys 14 chocolates for $1 and sells 13 chocolates for $1 then, what is his profit percent?
(5) Find the cost price of the plot, if a dealer earns a profit of 185% by selling the plot for $10288.5
(6) William loses 33% by selling an article for $1011.70. For how much should he sell it to get a profit of 32%?
(7) Find the cost price, if a trader gets a loss of 36% by selling 500 packets of fruits for $4486.40
(8) Mr. Bob buys 40 articles for $1 and sells 39 articles for $1. Find the profit percent in this sale.
(9) To earn a profit of 7% Mr. Robert should sell his article for how much if he gets a loss of 8% by selling it for $239.20?
(10) If a trader gets a loss of 55% by selling 15 bags of fruits for $4864.50 then find the cost price of fruits.