If a person earns a profit equal to the selling price of 10 apple by selling 60 apples find out he gain %
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Let the cost price of each apple be Rs x and selling price be Rs y.
Given that 10x = 12y
=> y = 10x12
=> y = 5x6
Since 5x/6 < x, y < x. Hence there is a loss.
Loss percent =
=> (x−y)x×100
=> (x−5x/6)x×100
=> (1−5/6)×100
=> (1/6)×100
= 16.67%
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