1.

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

Answer»

Given that, Cost price of 18 chairs = selling price of 16 chairs

So, let the cost price of 1 chair be Rs x

Selling price of 16 chairs =Rs 18x

Selling price of 1 chair = Rs 18x/16

By using the formula,

Gain = selling price – cost price

= 18x/16 – x

= 2x/16

= Rs x/8

By using the formula,

Gain % = (gain/cost price) × 100

= (x/8)/x × 100

= 25/2

= 12 ½ %



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