A man sells 320 mangoes at the cost of 400 mangoes. His gain percent is:_________?
Correct answer: D. 25%
- A. 10%
- B. 15%
- C. 20%
- D. 25%
Explanation
The cost of 320 mangoes is the cost of 320 mangoes, while the selling price equals the cost of 400 mangoes. Gain = 400 - 320 = 80 cost units, so gain percent = (80/320) x 100 = 25%. A common mistake is choosing 20%, by calculating the gain against 400 instead of the actual cost of 320.
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About Profit and Loss
Profit and loss compare the cost price and selling price of an item, using profit or loss percentages based on the cost price unless stated otherwise. Questions include marked price, discount, successive discounts, commission, and finding an unknown price, with care needed to distinguish discount from loss.
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