.If a merchant wants to give 10 percentage discount on the cost price, he has to sell it for Rs. 675. If he sells it for Rs. 765, find the gain or loss percentage.
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Answer:
If the merchant sells his goods for Rs. 765, the gain percentage will be 2%.
Explanation:
- The merchant is selling his goods at Rs.675 which is 10% less than the cost price.
- Therefore the selling price is equal to 90 % of the cost price.
⇒ 90% of Cost price = 675
Solving the equation we get,
⇒ Cost price = 750
- Now he is selling his goods at Rs. 765.
The absolute profit he is making will be Rs. 15
Profit ⇒ Sale price - Cost price
Profit ⇒ (765-750) = Rs. 15
Therefore,
Profit per cent = Profit/ Cost price multiplied by 100
Gain per cent = 15/750 X 100
Gain per cent = 2%
Therefore the Gain percentage will be 2%
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