Question
A retailer purchased several pants at a cost of Rs. 200
each and sold them for Rs. 300 per piece. He also incurred an average transportation expense of Rs. 40 on each pant. Calculate the percentage gain he achieved on this transaction.Solution
Effective cost price of each pant = 200 + 40 = Rs. 240 So, profit earned on each pant = 300 - 240 = Rs. 60 So, gain percentage = (60/240) x 100 = 25% Hence, option c.
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