Question
Download Solution PDF11 oranges are bought for Rs. 10 and 10 oranges for Rs. 11. What is the gain in percentage?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Cost of 11 oranges = Rs. 10
Cost of 10 oranges = Rs. 11
Formula used:
Cost Price (CP) per orange = Total Cost ÷ Number of Oranges
Selling Price (SP) per orange = Total Selling Price ÷ Number of Oranges
Gain Percentage = (Gain ÷ Cost Price) × 100
Calculations:
CP per orange = (10 ÷ 11) = Rs. 0.9091
SP per orange = (11 ÷ 10) = Rs. 1.10
Gain per orange = SP - CP = 1.10 - 0.9091 = Rs. 0.1909
Gain Percentage = (0.1909 ÷ 0.9091) × 100
⇒ Gain Percentage = 21%
∴ The gain is 21%.
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