Question

If the selling price of 18 chairs be equal to selling price of 16 chairs, find the gain or loss percent.

Answer 1

Cost price of 18 chairs = selling price of 16 chairs

Let cost price of 1 chair = Rs. x

Selling price of 16 chairs =Rs. 18x

Selling price of 1 chair = Rs. \(\frac{18x}{16}\)

Gain = \(\frac{18x}{16}\) - x = \(\frac{2x}{16}\) = Rs. \(\frac{x}{8}\)

= Gain% = \(\frac{gain}{cost\,price}\)x 100 = \(\frac{\frac{x}{8}}{x}\)x 100 = \(\frac{25}{2}\) = \(12\frac{1}{2}\)%