Question

If the cost price of 10 laptops is equal to the selling price of 7 laptops, what is the gain or loss percentage is?
1. 51% gain
2. 42.86% gain
3. 35% loss
4. 42.86% loss

Answer 1

Correct Answer - Option 2 : 42.86% gain

Given:

Cost price of 10 laptops = Selling price of 7 laptops

Formula Used:

Profit percentage = {(S.P – C.P)/C.P} × 100

Calculation:

Let C.P of each laptop be Rs. 1

C.P of 7 laptops = Rs. 7

C.P of 10 laptops = Rs. 10

S.P of 7 laptops = Rs. 10

Gain = Rs. (10 – 7) = Rs. 3

Gain % = 3/7 × 100 = 300/7 = 42.86%

∴ Gain percentage is 42.86%