Multiple choice

A vendor buys chikoos at the rate of 16 for Rs. 8 and then sells at the rate of 10 for Rs. 6. What will be the result?

  1. 12.5 percent loss

  2. 11.11 percent gain

  3. 20 percent gain

  4. 20 percent loss
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Cost price per item = 8/16 = 0.5. Selling price per item = 6/10 = 0.6. Profit = 0.6 - 0.5 = 0.1. Profit percentage = (0.1 / 0.5) * 100 = 20%.

AI explanation

The cost price of one chikoo is 8 divided by 16, which is Rs. 0.50, and the selling price of one chikoo is 6 divided by 10, which is Rs. 0.60. Using the profit percentage formula, we find the profit per chikoo is 0.60 minus 0.50, resulting in Rs. 0.10. This gives a profit percentage of 0.10 divided by 0.50 and multiplied by 100, equalling a 20 percent gain.

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