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Question

Mr, Basu purchased 20 plastic chairs at 225 per chair. He sold 12 chairs at 275per chair and the remaining chairs at 200 per chair. Find his gain or loss percent.


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Solution

The total cost price of 20 plastic chairs=225×20=4500

the selling price of 12chairs =275×12=3200

and the selling price of the remaining 8 chairs =200×8=1600

the total selling price of 20 plastic chairs=3200+1600=4800

Since the selling price is more than the cost price, there is a profit for Mr. Basu.

Profit =selling price -cost price

=4800-4500=300

Gain percent=gainC.P×100%

=3004500×100%=6.66..%

Thus, Mr. Basu gains 300 and at the gain percent 6.67%.


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