Question
A shopkeeper sells an item for ₹7200 and gains 20% on
the cost price. If he sells the same item at ₹8000, what will be his percentage gain?Solution
Let the cost price of the item be ₹x. Selling price at ₹7200 gives a gain of 20%, so: 7200 = x + 20% of x = x + 0.2x = 1.2x, x = 7200 / 1.2 = ₹6000. Now, if the shopkeeper sells the item for ₹8000, the gain will be: Gain = Selling price - Cost price = 8000 - 6000 = ₹2000. Percentage gain = (Gain / Cost price) × 100 = (2000 / 6000) × 100 = 33.33%. Correct option: c
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