Question : In a medical transaction, 17 times the cost price is equal to 8 times the sum of the cost price and the selling price. What is the gain or loss percentage?
Option 1: Loss 15%
Option 2: Gain 17.5%
Option 3: Gain 12.5%
Option 4: Loss 30%
Correct Answer: Gain 17.5%
Solution :
Given:
17 times the cost price is equal to 8 times the sum of the cost price and the selling price.
A.T.Q.,
$\Rightarrow 17{\text{(Cost Price)}} = 8{\text{(Cost Price + Selling Price)}}$
$\Rightarrow 9{\text{(Cost Price)}} = 8{\text{(Selling Price)}}$
$\Rightarrow \frac{{\text{(Cost Price)}}}{{\text{(Selling Price)}}} = \frac{8}{9}$
Now,
Profit percentage = $\frac{\text{Selling price – Cost price}}{\text{Cost price}}×100 = \frac{9-8}{8}\times 100= 12.5\%$
Hence, the correct answer is 12.5%.
Related Questions
Know More about
Staff Selection Commission Combined Grad ...
Result | Eligibility | Application | Selection Process | Preparation Tips | Admit Card | Answer Key
Get Updates Brochure
Your Staff Selection Commission Combined Graduate Level Exam brochure has been successfully mailed to your registered email id “”.
Upcoming Exams
Trending Articles around SSC CGL
