Multiple choice

Gagan paid Rs. 1,500 to buy a stock of 125 handcrafted key chains. As per the order, he sold them at a rate of Rs. 156 for a dozen handcrafted key chains. Calculate the percentage of profit of loss.

  1. Gain = 8.3333%

  2. Loss = 12.2454%

  3. Profit = 12.45%

  4. Loss = 12.1454%

  5. NA
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A Correct answer
Explanation

The cost per key chain is 1500/125 = Rs. 12. The selling price is 156/12 = Rs. 13 each, so the profit is Rs. 1 per chain, or 1/12 x 100 = 8.3333%.

AI explanation

The cost price of one key chain is 1500 divided by 125, which equals 12. Gagan sells them at 156 for a dozen, making the selling price of one key chain 156 divided by 12, which equals 13. The profit percentage formula is (((selling price minus cost price) divided by cost price) multiplied by 100), which gives (((13 minus 12) divided by 12) multiplied by 100). This results in a gain of 8.3333 percent.

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