Find the percentage gain or loss when the dot pens bought for Rs. 96 per dozen were sold atthe rate of 10 for Rs. 90?
Question
Find the percentage gain or loss when the dot pens bought for Rs. 96 per dozen were sold at the rate of 10 for Rs. 90?
Solution
Step 1: First, we need to find the cost price of each pen. Since the pens were bought for Rs. 96 per dozen, and a dozen contains 12 items, the cost price of each pen is Rs. 96/12 = Rs. 8.
Step 2: Next, we need to find the selling price of each pen. Since 10 pens were sold for Rs. 90, the selling price of each pen is Rs. 90/10 = Rs. 9.
Step 3: Now, we can calculate the gain. The gain is the selling price minus the cost price, which is Rs. 9 - Rs. 8 = Rs. 1.
Step 4: Finally, we can calculate the percentage gain. The formula for percentage gain is (Gain/Cost price) * 100. Substituting the values we have, the percentage gain is (Rs. 1/Rs. 8) * 100 = 12.5%.
So, there is a 12.5% gain in selling the pens.
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