Question : If the cost of 20 books is equal to the selling price of 18 books, then the gain percentage is:
Option 1: $11 \frac{1}{9}$%
Option 2: $11 \frac{1}{3}$%
Option 3: $11 \frac{2}{9}$%
Option 4: $10 \frac{1}{9}$%
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Correct Answer: $11 \frac{1}{9}$%
Solution :
Given: 20 × cost price = 18 × selling price
⇒ Selling price = $\frac{20}{18}$ × cost price
So, the gain percentage = $\frac{\frac{20}{18} × \text{cost price} - \text{cost price}}{\text{cost price}}$×100
= $\frac{200}{18}$ = $11 \frac{1}{9}$%
Hence, the correct answer is $11 \frac{1}{9}$%.
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