Multiple choice

Selling price of 60 chairs is equal to the cost price of 50 chairs. The net percentage gain or loss made in the transaction is

  1. 12.33% loss

  2. 12.33% profit

  3. 16.66% loss

  4. 16.66% profit
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let CP of one chair be 1. SP of 60 chairs = CP of 50 chairs = 50. Loss = 60 - 50 = 10. Loss % = (10/60) * 100 = 16.66%.

AI explanation

Let the cost price of one chair be Rs. 1, making the total cost price of 60 chairs Rs. 60. The selling price of 60 chairs equals the cost price of 50 chairs, which is Rs. 50. Applying the loss percentage formula, we calculate 50 minus 60 divided by 60 multiplied by 100, resulting in a 16.66 percent loss.

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