Question

an article is sold for RS 420 at a loss of 10 percent, what would have been the gain or loss percent if the same article had been sold for RS 500 ?



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Answer 1

Answer:

Gain = 7.14%

Step-by-step explanation:

⇒Selling Price  of the article = Rs 420

⇒Loss% = 10%

⇒Cost Price of the article = (100/100-loss%)×SP

                                           =(100/100-10)×420

                                           = 100/90×420

                                           = Rs 466.66

⇒New SP of article = Rs 500

∴SP>CP Hence Gain  

⇒Gain = Selling Price -Cost Price

        = 500 - 466.66

        = Rs 33.34

⇒Gain% = Gain/CP × 100

            = 33.34/466.6×100

            = 7.14%

Hope it helps!!!