Question

The selling price of 20 articles is equal to the cost price of 23 articles finding the loss or gain percentage in the transaction .

Answer 1

Hint: In this type of question we have to assume a particular value to the cost price. Using that value we have to find the selling price of 20 articles and the cost price of 23 articles. Then we need to find the gain or loss to further calculate the Gain or loss percentage.

Complete step-by-step answer:
Let the Cost price (CP) of 1 article be Rs1
Then Cost price of 23 articles = Rs23
Now according to the question,
Selling price (SP) of 20 articles = Cost price of 23 articles = Rs23
S.P. of 1 article=Rs$\dfrac{{23}}{{20}}$
Let the number of articles be x.
Then total Cost price= $1 \times x = Rs{\text{ x}}$
And total S.P.=$\dfrac{{23}}{{20}} \times x = \dfrac{{23x}}{{20}}$
Since S.P. > C.P. there is a profit
Profit = $\dfrac{{23}}{{20}} - x = \dfrac{{3x}}{{20}}$
$Profit{\text{ }}percentage = \dfrac{{profit}}{{CP}} \times 100$
$ \Rightarrow Profit{\text{ }}percentage = \dfrac{{\dfrac{{3x}}{{20}}}}{x} \times 100 = 3 \times 5 = 15\% $
The Gain percentage is 15%

Note: Remember the formula of gain and loss percentage to solve this particular type of question. Remember that any assumption of the cost price will not affect the gain or loss percentage.