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If the selling price of 10 jackets is equal to the cost price of 11 jackets, what is the gain percentage?1. 10%2. 11%3. 15%4. 25% |
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Answer» Correct Answer - Option 1 : 10% Given: The cost price of 11 jackets = The selling price of 10 jackets Formula Used: Profit percentage = {(S.P – C.P)/C.P} × 100 Calculation: Let the CP of each jacket be Rs. 1 CP of 10 jackets = Rs. 10 CP of 11 jackets = Rs. 11 SP of 10 jackets = Rs. 11 Profit percent = [(11 – 10)/10] × 100 = 10% ∴ Profit% is 10% |
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