Question

the ratio of cost price and selling price is 13:16 then approximate gain percentage is a) 23 b) 31 c) 42 d) 9

Answer 1

Let Cost Price be 13x and Selling Price be 16x (ratio is 13:16)

here SP > CP, therefore it is a gain

gain = SP - CP

       = 16x - 13x = 3x

Gain% = (gain/CP) × 100

           = (3x / 13x) × 100

           = 300/13 = 23% Approx

∴ Option (a) 23 is the correct answer.