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