Question

If CP of 60 chairs is equal to SP of 12 chairs. find the gain or loss percent.

Answer 1

Let the Cost Price of 1 chair = Re. 1
Cost Price of 60 items = Rs. 60
Selling Price of 60 items = Rs. 12

Loss = 60 - 12 = Rs 48

Loss % = (48/60)* 100 = 80%