Question

If cost price of $16$ article is equal to selling price of $14$ article . find the profit /loss.

Answer 1

$L.C.M$ of $16$ and $14=112$

Cost Price of $16$ articles $=Rs.112$

∴∴Cost Price of $1$ article $=\frac{112}{16}=7$=Rs.48÷16

=3

Selling Price of $14$ articles $=Rs.112$

Selling Price of $1$ article$=\frac{112}{14}=Rs.8$Rs.48÷12$=Rs.8$

=Rs.4

Profit on one article$=8-7=Rs.1$

Profit in %$=\frac{1}{7}\times 100=14.286$%