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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%


Team Careers360 1st Jan, 2024
Answer (1)
Team Careers360 4th Jan, 2024

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%.

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