A fruit - seller bought bananas at the rate of 3 for ₹ 8 and sold them at the rate of 2 for ₹ 7. Find his gain or loss per cent.
Answers
Profit% = 31.25%
Explanation:
Given:
1. A fruit - seller bought bananas at the rate of 3 for ₹ 8
2. Sold them at the rate of 2 for ₹ 7
To find:
Find his gain or loss percent.
Formula:
Profit = Selling price - Costprice
Loss = Cost price - Selling price
Profit% = (profit/cp)×100
Loss% = (Loss/cp)×100
Cost price of 3 Banana = ₹8
Selling price of 2 Banana = ₹7
Find the cost price of 1 Banana
Find the Selling price of 1 Banana
3 Banana = ₹8
Cost price of 1 Banana = 8/3
Cost price of 1 Banana = 2.666
2 Banana = ₹7
Selling Price of 1 Banana = 7/2
Selling Price of 1 Banana = 3.5
S.P > C.P = profit
C.P > S.P = Loss
3.5 > 2.6 = Profit
Profit = Selling price - Costprice
Profit = 7/2 - 8/3
Denominator is different
Profit = 7(3)/2(3)-8(2)/3(2)
Profit = 21/6 -16/6
Profit = 5/6
Profit% = (profit/cp)×100
Profit% = ((5/6)/(8/3))×100
Profit% = (5×3/6×8)×100
Profit% = (5/2×8)×100
Profit% = (5/16)×100
Profit% = 500/16
Profit% = 31.25%