The cost price of an item is two-third of itsselling price. What is ga

1.	The cost price of an item is two-third of itsselling price. What is gain or loss percent onthat item ?(a) 45(c) 35(b) 50(d) of these
Answer» Let selling price of item SP = xThen cost price of item CP = 2x/3 Gain% = [(SP - CP)/CP]×100 = [(x - 2x/3)/(2x/3) ]×100 = [(x/3)(3/2x)]×100 = (1/2)100 = 50 (b) is correct option

The cost price of an item is two-third of itsselling price. What is gain or loss percent onthat item ?(a) 45(c) 35(b) 50(d) of these

Answer»

Let selling price of item SP = xThen cost price of item CP = 2x/3

Gain% = [(SP - CP)/CP]×100 = [(x - 2x/3)/(2x/3) ]×100 = [(x/3)*(3/2x)]×100 = (1/2)*100 = 50

(b) is correct option