Question

If the selling price of $16$ water bottles is equal to cost price of $17$ water bottles . Find the gain per cent earned by the dealer.

Answer 1

Let SP of $1$ bottle be $x$

Therefore,

SP of $16$ such bottles $=16\times x=16x$

According to the question,

SP of $16$ bottles $=$ CP of $17$ bottles

Therefore, CP of $17$ bottles $=16x$

Hence, CP of $1$ bottle $=\frac{16x}{17}$

Since, SP of $1$ bottle is greater than the CP of $1$ bottle, therefore,

Profit $\%=\frac{\text{SP -CP}}{CP}\times 100$

$=\frac{x-\frac{16x}{17}}{\frac{16x}{17}}\times 100$

$=\frac{\frac{17x-16x}{17}}{\frac{16x}{17}}\times 100$

$=\frac{x}{16x}\times 100$

$=6.25\%$

Hence, the profit percent is $6.25\%$