d car for sale profit percentage calculation

Arithmetic MCQ 1 (car for sale profit %age)

Average Formula MCQs 0

MCQ 1: If a car is sold for Rs..50000 the profit is 17 percent, what would be profit percentage if sold for Rs. 47000?

a) 14.85% b) 9.98% c) 16.20% d)14.50%

Solution:

This question if about car for sale.

Profit %age is always taken with respect to the cost price !

So,

Let the cost price is ‘x’

We know

Profit = Sale Price – Cost Price

so by given 17% of x = 50000-x

\[ \frac{17}{100} \times x= 50000-x \]

\[ \frac{17x}{100}+x=50000 \]

\[ \frac{117x}{100}=50000 \]

\[ x=\frac{50000\times 100}{117}=42735.042735043 \]

So, the cost price is Rs 42735.042735043

Hence, if sale price is RS 47000

then

Profit= Sale price – Cost price = 47000-42735.042735043= Rs 4264.957264957

Now, Let’s suppose this profit i-e Rs 4264.957264957 is ‘y’ percent of cost price Rs 42735.042735043

i-e

4264.957264957= y% of 42735.042735043

\[ 4264.95726495=\frac{y}{100} \times 42735.042735043 \]

\[ y=\frac{4264.957264957\times 100}{42735.042735043} \]

\[ y=9.98 \]

i-e y=9.95% of cost price — option b is correct

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