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Answer:
(a) Gain % = 16%
(b) Loss % = 6%
Step-by-step explanation:
Gain will be there if Selling price(SP) is greater than the Cost price(CP).
Loss will be there if Selling price(SP) is less than the Cost price(CP).
(a) CP = ₹ 685 and SP = ₹794.60
As, SP > CP so there will be gain.
Gain = SP - CP = 794.60 - 685
= ₹ 109.6
Gain = ₹ 109.6
Gain % = (Gain / CP) × 100
= (109.6/685) × 100 = 0.16 × 100 = 16%
∴ Gain % = 16%
(b) CP = ₹ 325 and SP = ₹305.50
As, SP < CP so there will be loss.
Loss = CP - SP = 325 - 305.50
= ₹ 19.5
Loss = ₹ 19.5
Loss % = (Loss / CP) × 100
= (19.5 / 325) × 100 = 0.06 × 100
= 6%
∴ Loss % = 6%
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