A shopkeeper buys toffees at the rate of 10 toffees for rupee's 8 and sells at the rate of 8 toffees for rupee's 10. Find his gain or loss percent
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A shopkeeper buys toffees at the rate of 10 toffees for rupee's 8 and sells at the rate of 8 toffees for rupee's 10. His gain percent is 56.25%.
Step-by-step explanation:
Finding CP of 1 toffee :
10 toffees - ₹ 8
1 toffee - 8÷10 = ₹0.8
Finding SP of 1 toffee :
8 toffees - ₹10
1 toffee - 10÷8 = ₹ 1.25
SP is more than CP hence, profit occurred.
Finding Profit :
Profit = SP - CP
Profit = 1.25 - 0.8
Profit = ₹0.45
Finding Profit Percentage :
Profit Percentage = (Profit/CP)x100
Profit Percentage = (0.45/0.8) x 100
Profit Percentage = 56.25%
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