Satish bought 35 notebooks for ₹700 and sold 28 of them for ₹600. Find his percentage gain.
Answer & explanation
Correct answer: option 1
Cost price of 35 notebooks = 700
So, CP of 1 notebook = 20
Selling price of 28 notebooks = 600
So, Selling price of 1 notebook = \(\frac{600}{28}\) = \(\frac{150}{7}\)
Profit = \(\frac{150}{7}\) - 20 = \(\frac{10}{7}\)
Profit% = \(\frac{\frac{10}{7}}{20}\) × 100 = $7\frac{1}{7}$%