Question

If the selling price of 18 chairs be equal to selling price of 16 chairs find the gain or loss percent​

Answer 1

Question:

If the cost price of 18 chairs be equal to selling price of 16 chairs, find gain or loss (in percent).

Step-by-step explanation:

Let, CP of 1 chair be x.

CP of 18 chairs is 18x=SP of 16 chairs.

CP of 16 chairs =16x

Since, SP>CP

Profit=SP−CP

=18x−16x=2x

$Profit \: = \frac{profit}{c.p} \times 100 \\ = \frac{2x}{16x} \times 100 \\ = \frac{100}{8} = 12.5$