Question

A shopkeeper gains 20% while buying the goods and 30% while selling them. Find his total gain percent.​

Answer 1

Answer:

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Step-by-step explanation:

The price at which any product is sold is the selling price of the product which is denoted by S.P and the price at which a product is bought is the cost price of the product which is denoted by C.P.

Complete Step-by-Step solution:

The formula for finding x percentage of any quantity 1 is

x100×Quantity 1

As mentioned in the question, we have to find the total gain% that the shopkeeper gets after selling the product.

Now, let the C.P or the cost price be Rs. 100.

As the shopkeeper gains 20% at the time of buying, the shopkeeper buys articles worth Rs. 120 in the price of Rs. 100.

Hence, now, we can write the selling price or the S.P of the product as follows

s.p= rs 120*100+30/100

S.P = Rs. 120×(100+30)100 S.P= Rs. 120×130100 S.P= Rs. 156  

Now, as the selling price or the S.P of the article is Rs. 156, so, we can write or we can calculate the %gain or the total gain% as follows

gain=(156−100)100×100=56

Hence, the total gain% of the article or the product is 56%.