Question
Download Solution PDFA merchant sells 60 metre of cloth and gains selling price of 15 metre. Find the gain percent (rounded off to 1 decimal place).
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Length of cloth sold = 60 metres.
Profit = Selling price of 15 metres of cloth.
Formula Used:
Gain Percent = (Profit / Cost Price) × 100
Cost Price (C.P.) = Selling Price (S.P.) of 60 metres - Profit.
Calculation:
Let the Selling Price (S.P.) of 1 metre of cloth = ₹1.
⇒ S.P. of 60 metres = 60 × ₹1 = ₹60.
Profit = Selling Price of 15 metres = 15 × ₹1 = ₹15.
Cost Price (C.P.) = S.P. of 60 metres - Profit
⇒ C.P. = ₹60 - ₹15 = ₹45.
Gain Percent = (Profit / C.P.) × 100
⇒ Gain Percent = (15 / 45) × 100
⇒ Gain Percent = 0.333 × 100
⇒ Gain Percent = 33.3%
The gain percent is 33.3%.
Last updated on Jul 16, 2025
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