Question

The selling price of goods which cost is Rs.10 and were sold at a gain of 10% is ___
(a) Rs. 12
(b) Rs. 18
(c) Rs. 11
(d) Rs. 11.10

Answer 1

Hint: For solving this question you should know about selling price and cost price concept. In this problem this is given that the cost value is 10 Rs. And we have to determine the selling price and it is sold at a gain of 10%. Then what will be the selling price. And it will be calculated by the formula
S.P. = [(100 + Gain %)/100] \[\times \] C.P.

Complete step-by-step solution:
According to the question the price of goods whose cost price (C.P.) is Rs 10. And it has been sold at a gain of 10%. Now, we have to find the selling price (S.P.) of this product.
So, as we know that the cost price of any good is the value or price on which that is purchased and if we sell this good then at which price we sell it to any person then it will be the selling price. But if we sell that product at any profit or we can say that we sell it at any percent of gain. Then the selling price will be high from the original cost price. And if we want to calculate it then it can be calculated by this formula:
Selling price \[=\dfrac{100+Gain%}{100}\times \] Cost price
So, if we see in the question then the gain is given as 10% and the cost price for this is 10 Rs.
Now, if we calculate the selling price at a gain of 10%, that is:
Selling price \[=\dfrac{100+10}{100}\times 10\]
\[\begin{align}
  & =\dfrac{110}{100}\times 10 \\
 & =11 \\
\end{align}\]
So, the exact selling price is Rs. 11.

Note: While solving this question we can determine the selling price of a gain. But if we want to calculate the selling price of loss % then we can calculate that by the formula S.P. = [(100 – Loss%) / 100] \[\times \] C.P.
Thus, we can calculate both the selling prices for gain and for loss.