Question:
How much percent will a hawker earn, if he buys 34 articles for $1 and sells 33 articles for $1?
Correct Answer
3.03%
Solution And Explanation
Solution
Given,
The Cost Price (CP) for 34 articles = $1
The Sale Price (SP) for 33 articles = $1
Thus, Profit percent = ?
Unitary Method to find the profit when Cost Price and Sale Price are given
∵ The Cost Price (CP) for 34 articles = $1
Therefore, the Cost Price (CP) for 1 lemon = 1/34
∵ The Sale Price (SP) for 33 articles = $1
Therefore, the Sale Price (SP) for 1 lemon = 1/33
Calculation of profit
Profit = Sale Price (SP) – Cost Price (CP)
= 1/33 – 1/34
= 34 – 33/1122
⇒ Profit = 1/1122
Calculation of Profit Percent using Unitary Method
∵ When the Cost Price (CP) is 1/34, the the profit = 1/1122
∴ When the Cost Price (CP) is 1, then the profit
= 1/1122/1/34
= 1/1122 × 34/1
∴ When the Cost Price (CP) is 100, then the profit
= 1/1122 × 34/1 × 100
= 1 × 34 × 100/1122 × 1
= 3400/1122 = 3.03
Thus, Profit = 3.03% 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 34 articles = $1
And, the Sale Price (SP) of 33 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 34 and 33 = 1122
Now, Let total number of articles purchased = 1122
Here, since the Cost Price of 34 articles = $1
∴ the Cost Price of 1 articles = 1/34
Therefore, the Cost Price of 1122 articles
= 1/34 × 1122⇒ The Cost Price (CP) of 1122 articles = $33And, since the Sale Price of 33 articles = $1
∴ The Sale Price (SP) of 1 article = 1/33
Therefore, the Sale Price of 1122 articles
= 1/33 × 1122 = $34
⇒ The Sale Price (SP) of 1122 articles = $34
Now, the Cost Price (CP) of 1122 articles = $33
And, the Sale Price (SP) of 1122 articles = $34
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)
= 34 – 33 = 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 × 100/33
= 100/33 = 3.03
Thus, profit = 3.03% Answer
Similar Questions
(1) What will be the earnings in percent if a hawker buys 59 articles for $1 and sells 58 articles for $1?
(2) If a trader gets a loss of 13% by selling some colthes for $2096.70 then find the cost price.
(3) 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?
(4) If a vendor buys 14 chocolates for $1 and sells 13 chocolates for $1 then, what is his profit percent?
(5) In an exhibition, a trader earns a profit of 75%. His total sale was $2467.50. Find the cost price.
(6) Mrs. John earned a profit of 330% by selling her car. If she sold her car for $27993, then find the cost price of the car.
(7) By selling a car for $4751.5 Mr. Aron earns a profit of 115%. For how much was he purchased his car?
(8) If a vendor gets a loss of 70% by selling ten bags of banana for $4143 then find the cost price of all those bananas.
(9) Find the cost price, if a vendor gets a loss of 34% by selling some articles for $4362.60
(10) Find the cost price, if a trader gets a loss of 67% by selling ten bags of apple for $4359.30