When Vijay Sells 12 Pens, He Gains the Selling Price of 2 Pens. Calculate His Gain Percentage.
Question: When Vijay sells 12 pens, he gains the selling price of 2 pens. Calculate his gain percentage.
The Percentage is defined as a fraction or a ratio in which the value of the whole is always 100.
Answer: The gain percentage received by Vijay when he sells 12 pens is 20%
Gain percentage is the percentage of profit gained by Vijay
Let the selling price of one pen be Re.1
Selling price of 12 pens = 1 × 12 = Rs.12
According to the question,
He gains selling price of 2 pens = 1 × 2 = Rs.2
Thus, his profit amount = Rs.2
Profit or Gain = Selling price - Cost price
Selling price = SP = Rs.12, Cost price = CP = Rs.10, Profit = Rs.2
=> 2 = 12 - CP
=> CP = 12 - 2 = 10
=> Cost price = Rs.10
% Profit = [(SP - CP) /CP] × 100
= [(12-10) /10] × 100
= (2/10) × 100