Question

A man buys some toffees at 5 toffee in 3rupee and the same number of toffees at 5 toffee in Rs 4. He sold all of them at 5 toffee for 4 rupee. Find his overall gain or loss percent?

Answer 1

Hint: First find cost price and selling price using the given information. If the cost price is less than the selling price then profit occurs otherwise loss. We have formula that $$Gain\% {\text{ }} = {\text{ }}\dfrac{{gain}}{{cost{\text{ }}price{\text{ }}}} \times 100$$
Always remember that profit or loss percentage is calculated on cost price.

Complete step-by-step answer:
He buy toffees in two pair,
5+5 =10 toffees in total 7rupees. and sold a pair of 5 toffees for 4 rupees.
 Total selling price = $$4 + 4 = 8$$
$$Gain\% {\text{ }} = {\text{ }}\dfrac{{gain}}{{cost{\text{ }}price{\text{ }}}} \times 100$$
Gain=$$8 - 7 = 1$$
Gain%= $${\text{ }}\dfrac{1}{7} \times 100 = 14.2$$

Note: Here selling price is more than cost price. Hence we got an overall gain percentage. We solved the given problem using formula. After putting the values in the formula, we got the answer.