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