if a shopkeeper sold 8 items at the cost price of 7 items how much profit or loss does he makes
Answers
Given : a shopkeeper sold 8 items at the cost price of 7 items
To Find : how much profit or loss does he makes
Solution:
Let say cost price of each item = 8k
=> cost price of 7 items = 7k * 8 = 56k
a shopkeeper sold 8 items at the cost price of 7 items
=> Selling price of 8 items = 56k
=> Selling price of 1 item = 56k/8 = 7k
CP = 8k
SP = 7k
SP < CP => LOSS
Loss = 8k - 7k = k
Loss % = (k/8k) * 100 = 12.5 %
Shopkeeper has a loss of 12.5 %
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