Question

A vendor bought a banana at 6 for Rs.10 and sold them at 4 for Rs.6. Find his gain or loss percent.
(a). 12%
(b). 8%
(c). 6%
(d). 10%

Answer 1

Hint: We will use certain formulae to solve this question. The formula to determine loss is Loss = CP-SP, where CP is the cost price and SP is the selling price. Also the loss percent is calculated as loss obtained multiplied by 100.

Complete step-by-step anwer:

The vendor bought 6 bananas for Rs.10 and sold 4 of them at Rs.6.
We have to find the gain or loss percent. To find this, we will have to find the cost price and selling price for each banana separately.
Cost price (CP) is the price at which an article is purchased and selling Price (SP) is the price at which an article is sold. If the selling price is more than cost price, the difference between them is the profit incurred and if selling price is less than cost price then, the difference between them is the loss incurred.
Given that for 6 bananas he gave 10rs.
So, for one banana the price will be,
\[\dfrac{10}{6}=1.6\]
Therefore, the Cost price CP = 1.6 per banana.
Given that for 4 bananas, he took 6rs.
Therefore, price of one banana will be,
\[\dfrac{6}{4}=1.5\]
Then the selling price SP = 1.5 per banana.
Since, we obtain SPTherefore, he has incurred loss.
The formula of loss is given by,
Loss = CP-SP
Substituting the value of CP and SP we get,
Loss = 1.6-1.5 = 0.1
Loss percent is equal to loss multiplied by 100, which is given by,
Loss% = \[(0.1)(100)=10%\].
Therefore, the loss percent is 10%, which is option (d).

Note: The possibility of error in the question is that you can mistakenly only determine the loss and not the loss percent which was to be determined in the question. The loss percent gives the percentage of loss incurred.