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Ten (10) items of a product are sold for ₹ 100 at 10% profit. If 12 items of the same product are sold for ₹ 100, then the gain/loss (in %) would be :
Explanation
To determine the gain or loss percentage, we first find the Cost Price (CP):
- Find CP of 10 items: Selling Price (SP) = ₹ 100, Profit = 10%.
SP = CP × (1 + Profit/100) → 100 = CP × 1.1
CP of 10 items = 100 / 1.1 = ₹ 1000/11. - Find CP of 1 item: (1000/11) / 10 = ₹ 100/11.
- Find CP of 12 items: 12 × (100/11) = ₹ 1200/11 ≈ ₹ 109.09.
- Calculate Loss: The new SP for 12 items is ₹ 100. Since SP < CP, there is a loss.
Loss = CP - SP = (1200/11) - 100 = ₹ 100/11. - Calculate Loss %: (Loss / CP) × 100 = [(100/11) / (1200/11)] × 100 = 1/12 × 100 = 8.33% or 81⁄3%.
Option C (8- % loss) is the only choice representing this loss, where the hyphen likely represents a missing fraction (1⁄3).
SIMILAR QUESTIONS
If a shopkeeper sells an item 'A' at 20% profit and item 'B' at 25% profit, then the total profit made is ₹ 120. If he sells item 'A' at 25% profit and item 'B' at 20% profit, then the total profit made is ₹ 105. What is the sum of the cost price of items 'A' and 'B' ?
A shopkeeper sold a product at 30% loss. Had his selling price been ₹150 more, he would have made a profit of 10%. What was the cost price?
A shopkeeper gives a discount of 10% on his items. ₹ 280 is the marked price of an item. On selling this item, the shopkeeper earns a profit of 26%. What is the cost price of the item ?
In order to convert a loss of 5% to a profit of 5%, a shopkeeper raises the price of an item by ₹ 500. What is the cost price of the item ?