Question

The cost price of an item is two-thirds of its selling price. what is the gain or loss percent on that item​

Answer 1

let cp=x ,sp=2x/3

Gain=x-2x/3=x/3

Gain%=x/3/2x/3×100

=x/3×3/2x×100

=50%

Answer 2

Answer:

The gain% is 50%.

Step-by-step explanation:

Given :The cost price of an item is two-thirds of its selling price.

To Find : what is the gain or loss percent on that item​

Solution:

Let the selling price be x

Since we are given that The cost price of an item is two-thirds of its selling price.

CP = $\frac{2}{3}x$

SP>CP

So, profit

Profit% = $\frac{SP-CP}{CP}\times 100$

Profit% = $\frac{x-\frac{2}{3}x}{\frac{2}{3}x}\times 100$

Profit% = $\frac{\frac{3x-2x}{3}}{\frac{2}{3}x}\times 100$

Profit% = $\frac{\frac{x}{3}}{\frac{2}{3}x}\times 100$

Profit% = $\frac{1}{2}\times 100$

Profit% = $50\%$

Hence the gain% is 50%.