Question : By selling 55 metres of cloth, one gains the selling price of 11 metres. Find the gain percent.
Option 1: 33%
Option 2: 15%
Option 3: 25%
Option 4: 23%
Correct Answer: 25%
Solution :
We know, Profit = Selling Price – Cost Price
⇒ 55 SP – 55 CP = 11 SP
where SP = Selling Price and CP = Cost Price
⇒ 44 SP = 55 CP
Now, let the cost price be Re. 1.
⇒ CP of 44 meter of cloth = Rs. 44 and SP of 44 meter of cloth = Rs. 55
⇒ Profit percentage = $\frac{\text{Selling price – Cost price}}{\text{Cost price}}×100$ = $\frac{55-44}{44}\times100= 25$%
Hence, the correct answer is 25%.
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