Question : Satish bought 35 notebooks for Rs. 700 and sold 28 of them for Rs. 600. Find his gain percentage.
Option 1: $7 \frac{1}{7} \%$
Option 2: $9 \frac{1}{7} \%$
Option 3: $6 \frac{1}{7} \%$
Option 4: $8 \frac{1}{7} \%$
Correct Answer: $7 \frac{1}{7} \%$
Solution :
First, the cost price (CP) per notebook = $\frac{700}{35}$ = Rs. 20
Then, the selling price (SP) per notebook = $\frac{600}{28}$ = Rs. 21.43
The gain is the difference between the SP and CP = 21.43 – 20 = Rs. 1.43 per notebook
Percentage Gain = $\left(\frac{\text{Gain}}{\text{CP}}\right) \times 100 = \left(\frac{1.43}{20}\right) \times 100 \approx 7 \frac{1}{7} \%$
Hence, the correct answer is $7 \frac{1}{7} \%$.
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