Question

Akhil bought 50 momos for Rs 350 & he sold them for Rs 420.
Calculate his percentage gain.

Answer 1

Question -:

Akhil bought 50 momos for Rs 350 and he sold them for Rs 420. Calculate his percentage gain.

Answer -:

Given -:

• Cost price of 50 momos = Rs 350.
• Selling price of 50 momos = Rs 420.

To find -:

• His gain percentage.

Step-by-step explanation -:

Cost Price of 50 momos = Rs 350.

Selling Price of 50 momos = Rs 420.

Profit = Selling Price - Cost Price.

So, Profit = Rs 420 - Rs 350 = Rs 70.

Profit and Loss percentage is always calculated on the Cost Price.

Cost Price = Re 350.

So, now we have to express Rs 70 as a percentage of Rs 350 and that will be the gain percentage.

Let the percent be x.

Thus, we have -:

$x\% \: of \: 350 = 70$

Ignore the % sign for now, at the end, when we will get our answer, then we can put the % sign there.

So, we have -:

$x \: of \: 350 = 70$

$\frac{x}{100} \times 350 = 70$

$\frac{350x}{100} = 70$

Now, reduce the numbers. First simply cut off the zeroes. We are left with -:

$\frac{35x}{10} = 70$

35 and 10 are both divisible by 5, so reduce them. We get -:

$\frac{7x}{2} = 70$

Now solve it.

$\frac{7x}{2} = 70$

$7x = 70 \times 2$

$7x = 140$

$x = \frac{140}{7}$

$x = 20$

Thus, he gained 20% profit.

How to verify?

To verify your answer, just see if 20% of Rs 350 = Rs 70 or not because that's the profit.

Thus, we have -:

$20\% \: of \: 350$

$\frac{20}{100} \times 350$

Reduce the numbers. Cut off the zeroes first.

We are left with -:

$\frac{2}{1} \times 35$

$\frac{2}{1} = 2$

So, we get -:

$2 \times 35 = 70.$

Since 20% of Rs 350 is Rs 70 (Profit),

Hence verified ✔️✔️