Question

A grocery sold 5kg of wheat flour at Rs30 per kg and gained 20%. If he had sold it at Rs27 per kg, what would be his gain or loss percent.

Answer 1

Answer:

His gain percent would have been 8%

Step-by-step explanation:

The key to answering this question is to first calculate the price at which the wheat flour was bought.

Mathematically;

% profit = (selling price-cost price)/cost price * 100%

Let the cost price be $x

Thus;

% profit = (30-x)/x * 100

20 = 100(30-x)/x

20x = 3000-100x

100x + 20x = 3000

120x = 3000

x = 3000/120

x = Rs 25

So let’s assume he sold at Rs 27

His profit would have been 27-25 = 2

His gain or loss percentage would’ve been;

2/25 * 100/1 = 200/25 = 8% (gain, since selling price is greater than the cost price)