Multiple choice

The cost price of an item is two third of its selling price, what is the gain or loss percent on that item

  1. 45

  2. 50

  3. 35

  4. 54
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

CP = (2/3) * SP. This implies SP = 1.5 * CP. Gain = SP - CP = 0.5 * CP. Gain percent = (0.5 * CP / CP) * 100 = 50%.

AI explanation

Let the selling price be Rs. 300, making the cost price two thirds of that, which is Rs. 200 according to the given condition. Using the profit percentage formula, the gain is 300 minus 200 equals Rs. 100. The profit percentage becomes 100 divided by 200 multiplied by 100, yielding 50%. The result is 50%.

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