Question

find the gain. or loss percentage when selling price is ₹1720 and gain is ₹500​

Answer 1

1720-500=1220

gain=500

selling price=1720

gain%=500/1720×100

=29%

Answer 2

Given:

Selling Price (S.P.) = ₹1720

Profit or Gain = ₹500

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To find:

The gain or loss percentage.

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Solution:

As we are given profit, therefore its obvious that we will find the profit percentage.

Selling Price (S.P.) = ₹1720

Profit = ₹500

Cost Price (C.P.) = ?

As we know that,

Profit = S.P. - C.P.

So,

500 = 1720 - C.P.

C.P. = ₹(1720-500)

C.P. = ₹1220

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Now, as we have found the C.P., let's find the profit percentage now.

Profit% = $\dfrac {Profit}{C.P.}$ × 100%

Profit% = $\dfrac {500}{1220}$ × 100%

Profit% = $\dfrac {2500}{61}$ %

Profit % = 40.9%

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Final answer:

The profit percentage on the overall transaction is 40.9% or 50% (round-off).

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Formulas used:

Profit = S.P. - C.P.

Profit% = $\dfrac {Profit}{C.P.}$ × 100%

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⭐MORE FORMULAS

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Loss = C.P. - S.P.

Loss% = $\dfrac {Loss}{C.P.}$ × 100%