Question

10. If the selling price of 20 articles is equal to the cost price of 23 articles, find the loss or gain per cent.​

Answer 1

Answer:

Let the cost price of 1 article be $1.

Therefore, cost price of 20 articles = 20 * 1 = $20

The selling price of 25 articles = cost price of 20 articles = $20.

Now, we know the selling price of 25 articles. Let us find the cost price of 25 articles.

Cost price of 25 articles = 25 * 1 = $25.

Therefore, profit made on sale of 25 articles = Selling price of 25 articles - cost price of 25 articles

= 20 - 25 = -$5.

As the profit is in the negative, the merchant has made a loss of $5.

Therefore, % loss = loss/cp * 100

% loss = -5/25 * 100 = 20% loss.

Step-by-step explanation:

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