A shopkeeper buys an article at 8 for Rs,16 and sells them at 9 for Rs,20 . his gain or loss percent

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7.Profit and Loss

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A shopkeeper buys an article at $8$ for $Rs\,16$ and sells them at $9$ for $Rs\,20$. What is his gain or loss percent?

A

$10 \%$ loss

B

$10 \%$ gain

C

$11 \frac{1}{9} \%$ gain

D

$11 \frac{1}{9} \%$ loss

Solution

$\%$ profit or loss $=\frac{8 \times 20-9 \times 16}{9 \times 16} \times 100$

$=\frac{1600}{9 \times 16}=\frac{100}{9}=11 \frac{1}{9} \%$

$\therefore$ Profit $=11 \frac{1}{9} \%$

Standard 13

Quantitative Aptitude

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