Question

Exercise-1(A) The cost price and selling price of an article are Rs. 300 and Rs. 360 respectively; find the gain and percentage of gain on C.P?​

Answer 1

Given: Cost Price of an article = Rs. 300

           Selling Price of the article = Rs. 360

To find: Gain amount and percentage of gain on Cost Price

Solution: According to the given question,

C.P. (Cost Price) of the article = Rs. 300

S.P. (Selling Price) of the article = Rs. 360

By observation, we can understand that S.P. > C.P.

Hence, the owner of the article had gain

Gain = S.P. - C.P.

        = Rs. 360 - Rs. 300

        = Rs. 60

.: Gain percentage = $\frac{Gain}{Cost Price}$ × 100

                                 = $\frac{60}{300}$ × 100

                                  = 20%