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Select the correct answerA trader purchases several articles at the rate of 13 for Rs.10 and sells them at the rate of 10 for Rs.13. What is his gain/loss?Options50% gain45% gain69% gain69% loss

Question

Select the correct answerA trader purchases several articles at the rate of 13 for Rs.10 and sells them at the rate of 10 for Rs.13. What is his gain/loss?Options50% gain45% gain69% gain69% loss

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Solution

To solve this problem, we first need to determine the cost price (CP) and the selling price (SP) of a single article.

Step 1: Determine the Cost Price (CP) of a single article The trader purchases 13 articles for Rs.10, so the cost price of a single article would be Rs.10/13.

Step 2: Determine the Selling Price (SP) of a single article The trader sells 10 articles for Rs.13, so the selling price of a single article would be Rs.13/10.

Step 3: Calculate the gain percentage The gain percentage is calculated as ((SP - CP) / CP) * 100%.

Substituting the values we have: Gain % = ((13/10 - 10/13) / (10/13)) * 100%

Solving this gives us approximately 69% gain.

So, the correct answer is 69% gain.

This problem has been solved

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