Question

I gain 70 paise on Rs. 70. My gain percent is:
A. \[0.1\% \]
B. \[1\% \]
C. \[7\% \]
D. \[10\% \]

Answer 1

Hint: Here, first we have to convert all properties into one same unit that is to convert Rupees into paise and then calculate ratio of first property to another once we have a ratio we can multiply it with 100 to get a percentage from it.

Complete step-by-step answer:
Let’s start by converting Rupees to paise.
Firstly, convert 5 Rs to paise:
As, \[1Rs = 100paise\]
We will multiply it with 70 to get a value of 70Rs.
 \[70Rs = 70 * 100paise\]
\[ \Rightarrow 7000paise\]
Now we have to take ratio of both quantities that are 70 and 7000 paise respectively
Ratio means comparing two quantities. Let’s suppose a basket has two types of fruits, say, 30 apples and 6 oranges.
Then, the ratio of the number of oranges to the number of apples is \[ = 6:30\]
Take the ratio of 70 paise to 7000 paise.
\[Ratio = 70:7000\]
We will write this ratio in fraction for converting it into percentages
Percent means ‘per hundred’ or out of hundred. Percentage is another way of comparing ratios that compares to hundred.
Now, let’s divide the numerator and denominator with 70.
After dividing we get,
\[ \Rightarrow \dfrac{1}{{100}}\]
Now, 1 is not divisible by 100. Means we have got our ratio that is \[1:100\] .
For, converting any ratio into percentage we have to multiply it by 100
So now, let’s multiply this ratio with 100 to get a percentage.
\[\dfrac{1}{{100}}*100\]
\[ \Rightarrow 1\% \]
 \[Percentage = 1\% \]
Hence, Option B is Correct .

Additional Information: Divide the appropriate number from numerator and denominator until the numerator is not divisible by the denominator. After dividing it we just have to multiply by 100 and get the exact percentage.

Note: We can calculate percentage by getting the ratio of both values once both values are in same quantity if it’s not then convert all into the smallest unit but check that both should be in the same units.