Question
If the selling price of 10 raincoats is equal to the cost price of 12 raincoats, find the gain percentage.
The correct answer is
20%
Let the cost price of each raincoat be C and the selling price be S.
According to the question, 10S = 12C, or S = (12/10)C = 1.2C.
Therefore, the gain per raincoat is 1.2C - C = 0.2C.
The gain percentage = (0.2C / C) × 100 = 20%.
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Important Questions from Profit and Loss
- Veer bought some sharpeners at the rate of ₹180/dozen. He sold them for ₹23 each. His profit percentage is ____ % (rounded off to two decimal places).
- A shopkeeper lists the price of a fan at 60% above its cost price and offers a 15% discount on its list price. If he earns a profit of ₹117, then what is the list price (in ₹) of the fan?
- The marked price of an article is ₹800. It is sold at two successive discounts of 24% and 15%, respectively. Find the selling price of the article.
- A discount of 13% on the marked price of an article is allowed and then the article is sold for ₹348. The marked price of the article is:
- A trader claims to sell grains at a profit of 29%, but also dishonestly uses a weight which is 13% less than what is mentioned on it. Find the total percentage of profit earned by the trader. (Round off the answer to the nearest whole number.)
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