7. if the cost price of 10 chairs be equal to the selling price of 16 chairs find the gain and loss percent
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Let, CP of 10 chairs be x
CP of 1 chair be x/10
Let, SP of 16 chairs be x
SP of 1 chair be x/16
Loss = (CP - SP)
= (x/10 - x/16)
= {(8x-5x)/80}
= 3x/80
Loss% = (Loss/CP × 100)
= (3x/80 × 10/x ×100)
= 37.5%
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