Question

Find the Loss or Gain Percentage of a Man
A Man bought some lemons at 7 for Rs.18 and sold them 5 for Rs.16. What was his loss or gain percentage?

Answer 1

Here we need to calculate the CP and SP for one lemon.

CP comes out to be Rs.18/7 = Rs. 2.57/lemon
SP comes out to be Rs. 16/5 = Rs. 3.20/lemon

Clearly the man made a profit.

Lets calculate the profit percentage: [(SP - CP)/CP] x 100
= [(3.20 - 2.57)/2.57] x 100
= 24.51

So our answer is 24.51%