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Question 75
Ram buys articles at 70 for ₹ 890 and sold at 60 for ₹ 890. What is his gain percent?
Solution
Let the total number of articles bought and sold be 420 (LCM of 70 and 60).
Cost Price of 70 articles = Rs.890
Then, Cost Price of 420 articles = Rs.890*6 = Rs.5340
Selling Price of 60 articles = Rs.890
Then, Selling Price of 420 articles = Rs.890*7 = Rs.6230
Overall Profit = Rs.6230 - Rs.5340 = Rs.890
Overall Profit percentage = $$\dfrac{890}{5340}\times100 = 16\dfrac{2}{3}$$%
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