Question

the cost price of 12 candles is equal to selling price of 15 candles find the gain or loss percent

Answer 1

Solution :

Let the cost price be x and the selling price be y. Then

12x = 15y

Let cost price (x) of 1 candle = Rs 1

Then, cost price of 12 candles = Rs 12

i.e. 12 = 15y

⇒ y = $\frac{12}{15}$ ⇒ 0.8

i.e Cost price (x) = 1, and selling price (y) = 0.8

As cost price is greater then selling price, hence there is loss.

Loss = Cost price - Selling price

∴ 1 - 0.8 = 0.2

Percentage loss = 0.2 × $\frac{100}{1}$ = 20%