Question & Answer
QUESTION

By selling 100 biscuits packets, a shopkeeper makes a profit equivalent to the selling price of 40 biscuit packets. Find the gain percent.

ANSWER Verified Verified
Hint: To find the gain percent we had to find the gain amount. So, we had to only find the cost price of 100 biscuit packets by subtracting the selling price of 40 biscuit packets from the selling price of 100 biscuit packets. And after that we will get gain percent by using formula gain% = \[\dfrac{{{\text{Gain}}}}{{{\text{Cost Price}}}} \times 100\].

Complete step-by-step answer:
Let the selling price of one biscuit packet be Rs. x.
So, the selling price for 40 biscuit packets will be equal to the selling price of one biscuit packet * 40.
So, the selling price of 40 biscuit packets will be Rs. 40x.
And the selling price of 100 biscuit packets will be Rs. 100x.
As we know that the profit on selling 100 biscuit packets is equal to the selling price of 40 biscuits packets.
So, cost price of 100 biscuit packets will be equal to selling price of 100 biscuit packets – profit on 100 biscuit packets = 100x – 40x = 60x
Now we had to find the gain percent in selling biscuit packets.
So, using gain percentage formula which states that gain percent is equal to \[\dfrac{{{\text{Gain}}}}{{{\text{Cost Price}}}} \times 100\]
So, gain percent = \[\dfrac{{40x}}{{60x}} \times 100 = \dfrac{{400}}{6} = 66.66\% \]
Hence, the gain percent on selling each biscuit packet is equal to 66.66%.

Note: Whenever we come up with this type of problem then we should remember that gain or loss percent is always calculated from the cost price of that article. And if the cost price is more than the selling price there will be loss and if the selling price is more than cost price then there will be gain.