If the selling price of 10 raincoats is equal to the cost price of 12 raincoats, find the gain percentage.

Given:

Selling Price (SP) of 10 raincoats = Cost Price (CP) of 12 raincoats

Formula used:

Gain% = [(SP - CP) ÷ CP] × 100

Calculation:

Let CP of 1 raincoat = ₹1

⇒ CP of 12 raincoats = ₹12

⇒ SP of 10 raincoats = ₹12

⇒ SP of 1 raincoat = ₹12 ÷ 10 = ₹1.20

CP = ₹1

SP = ₹1.20

Gain% = [(1.20 - 1) ÷ 1] × 100 = (0.20 ÷ 1) × 100 = 20%

∴ Gain percentage = 20%