Question

An article was purchased for Rs. 500 and sold for Rs. 550. Find the gain and gain percent.​

Answer 1

Answer:

Gain=Rs.50

Gain%=10%

Step-by-step explanation:

C.P=Rs.500

S.P=Rs.550

Gain=Rs.550-500

       =Rs.50

Gain%=(50/500)*100

          =10%

Answer 2

• The gain amount = Rs. 50

• The gain percent = 10%

Given :

An article was purchased for Rs. 500 and sold for Rs. 550.

To find :

• The gain amount

• The gain percent

Solution :

Step 1 of 3 :

Write down Cost price and Selling price

Here it is given that an article was purchased for Rs. 500 and sold for Rs. 550.

Cost price = Rs. 500

Selling price = Rs. 550

Step 2 of 3 :

Calculate gain amount

Now 550 > 500

∴ Selling price > Cost price

So there is gain

The gain amount

= Rs. 550 - Rs. 500

= Rs. 50

Step 3 of 3 :

Calculate gain percent

Hence the required gain percent

$\displaystyle \sf{ = \frac{ The \: gain \: amount }{ Cost \: price} \times 100 \% }$

$\displaystyle \sf{ = \frac{ 50 }{ 500} \times 100 \% }$

$\displaystyle \sf{ = \frac{1}{10} \times 100 \% }$

$\displaystyle \sf{ = 10 \% }$

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