SSC MTS 2020 · PYQ · Profit and Loss · medium
The selling price of an article is 7/6 times the cost price. What is the loss/gain percentage (correct up to two decimal places)?
Answer
The correct answer is A: Gain 16.67%. Let cost price = 6x, then SP = 7x. Gain = x, Gain% = (x/6x)×100 = 16.67%.
- A.Gain 16.67%✓ Correct
- B.Gain 19.54%
- C.Loss 16.67%
- D.Loss 19.54%
Let cost price = 6x, then SP = 7x. Gain = x, Gain% = (x/6x)×100 = 16.67%. Since SP > CP, it is a gain.
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