Question

If the CP of 5 chocolates is equal to selling price is 3 chocolates, then the gain % is___

Answer 1

Hint: In this question, first we need to assume the CP of 1 chocolate be Re. 1, then CP of 5 chocolates would be Rs. 5. It is given that Selling price of 3 chocolates is equal to the Cost price of 5 chocolates and we already have the CP of 5 chocolates that is Rs. 5. So, the selling price of 3 chocolates would be Rs. 5. Now we can easily find gain and gain percent.

Complete step-by-step answer:
Let the CP of 1 chocolate be Rs. 1
Then CP of 5 chocolates = Rs. 5
SP of 3 chocolates = Rs. 5 (given- SP of 3 chocolates is equal to CP of 5 chocolates)
Then SP of 1 chocolate = $Rs.\dfrac{5}{3}$
Gain = SP – CP = $\dfrac{5}{3} - 1 = Rs.\dfrac{2}{3}$.
Gain% = $\dfrac{{Gain}}{{CP}} \times 100$ = $\dfrac{{\dfrac{2}{3}}}{1} \times 100 = 66.66\% $.

Therefore, gain % = 66.66 %.

Note: Cost Price is the price at which goods are or have been bought by the seller. Cost Price can be also represented as CP. Selling price is the amount at which product is sold by the seller. Selling price is also known as market price, list price, or standard price. Selling price can also be denoted as SP. If Cost Price is greater than the Selling price then it means the seller has suffered a loss on that product. If Selling price is greater than Cost price then it means the seller gets a profit. In short: C.P > S.P = Loss and S.P > C.P = profit.