Question

If the cost price of 10 chairs be equal to the selling price of 16 chairs, find the gain or loss per cent

Answer 1

Let us assume that he bought 10 chairs for x rupees

Hence from this we get each chair cost x/10 rupess

cost price of 10 chairs be equal to the selling price of 16 chairs. hence he sold 16 chairs for x rupees i.e., he sold one chair for x/16 rupees

cp                                   sp  

x/10------------------------->x/16

here it is clear that there is loss

loss % = [(x/10-x/16)/x/10]*100

hence loss % is 37.5%

Answer 2

Let the c.p of each chair be Rs.1, then c.p of 16 chairs=Rs.16

S.p of 16 chairs= C.p of 10 chairs=Rs.10

Here Cp > S.p so there is a loss = c.p-s.p=rs.16-10=Rs.6

Loss% = Loss/c.p*100

6/16*100 = 75/2 = 37.5%