Gain Percentage Calculation Explained
This solution details the steps Ram took to calculate his gain percentage after buying and selling balls.
Understanding Ram's Transaction Details
To find the gain percentage, we need to know the total cost price (CP) and the total selling price (SP).
- Number of balls Ram bought = 13
- Total Cost Price (CP) for 13 balls = Rs. 390
- Selling Price (SP) for each ball = Rs. 33
Calculating the Total Selling Price
First, determine the total revenue Ram earned from selling all the balls.
Total SP = Number of balls × Selling Price per ball
Total SP = 13 × Rs. 33
Total SP = Rs. 429
Calculating the Gain Amount
A gain occurs when the selling price is more than the cost price. The gain amount is the difference between the total SP and total CP.
Gain = Total SP - Total CP
Gain = Rs. 429 - Rs. 390
Gain = Rs. 39
Calculating the Gain Percentage
The gain percentage measures the profit relative to the initial cost price. The formula used is:
$$ \text{Gain Percentage} = \left( \frac{\text{Gain}}{\text{Cost Price}} \right) \times 100 $$
Now, let's plug in the values we calculated:
Gain Percentage = $ \left( \frac{39}{390} \right) \times 100 $
Simplify the fraction:
Gain Percentage = $ \left( \frac{1}{10} \right) \times 100 $
Gain Percentage = 10%
Conclusion
Therefore, Ram's gain percentage on selling the balls is 10%.
Similar Questions
- P sells a Laptop to Q at a loss of 25% and Q sells the laptop to R at a profit of 20%. If R purchased the laptop for 22,500, then what was the cost (in ₹) of the laptop for P?
- The selling price of y items is equal to the cost price of 540 items. If the profit made is 44%, then find the value of y.
Two articles were sold for Rs.3,000 each, with no loss and profit in the entire transaction. If one was sold at a profit of 25%, then the loss incurred on the second article is _______.
- The profit earned after selling an article for ₹6,250 is the same as the loss incurred after selling the article for ₹3,750. Find the cost price of the article.
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Important Questions from Profit and Loss
Rohit buys 8 pens and 4 pencils for Rs. 2400. He sells pencils at a profit of 20 percent and pens at the loss of 10 percent. If his overall profit is Rs. 240, then what is the sum of the cost price of one pen and one pencil?
A man sells a car to his friend at the loss of 10 %; who in return sells it for Rs. 54000 making a profit of 20 %. What was the initial value of the car?
An article was sold at a loss of 24%. If it were sold for Rs. 1,596 more, then there would have been a gain of 18%, The cost price of the article is:
The cost price of an article is Rs.6,450. If it sold at a profit 16%, how much would be its selling price?
If the selling price of 7 articles is equal to the cost price of 6 articles, then what is the percentage loss?
