Correct Answer - Option 3 : 25% profit
Given:
The cost price of 12 fans = Selling price of 10 fans
Concept:
Gain: The amount gained by selling a product with more than its cost price.
Loss: The amount of losses by selling a product with less than its cost price.
Formula Used:
Profit or Gain = Selling price – Cost Price
Profit or Gain percentage = (Profit /Cost Price) × 100
Loss = Cost Price - Selling Price
Loss percentage = (Loss /Cost Price) × 100
Calculation:
Let the Selling price of one fan be 10 x
So, the selling price of 8 fans = 80x
Cost price of 10 fans = 80x
⇒ Cost price of 1 fan = 80x/10 = 8x
Profit = 10x - 8x = 2x
Profit % = (2x/8x) × 100 = 100/4 = 25%
∴ The gain percent is 25%.