A shopkeeper purchased 12 T-shirts for Rs. 3,000 and sold them at 3 for Rs. 750. Calculate his loss or gain percent
Question
A shopkeeper purchased 12 T-shirts for Rs. 3,000 and sold them at 3 for Rs. 750. Calculate his loss or gain percent
Solution
Step 1: Calculate the cost price of each T-shirt
The shopkeeper purchased 12 T-shirts for Rs. 3,000. So, the cost price of each T-shirt is Rs. 3,000 / 12 = Rs. 250.
Step 2: Calculate the selling price of each T-shirt
The shopkeeper sold the T-shirts at 3 for Rs. 750. So, the selling price of each T-shirt is Rs. 750 / 3 = Rs. 250.
Step 3: Compare the cost price and the selling price
The cost price of each T-shirt is Rs. 250 and the selling price of each T-shirt is also Rs. 250.
So, the shopkeeper neither made a profit nor a loss. The gain or loss percent is 0%.
Similar Questions
A book was sold for Rs.150 with a profit of 12%. If it were sold for Rs.135 then what would have been the percentage of profit or loss?
If percentage of profit obtained by selling an item for Rs. 1420 is same as the percentage of loss incurred by selling a same product for Rs. 1260, what should be the selling of the product with 12.5% of profit?Question 3Answera.1387.5b.1507.5c.1485.7d.1400
A 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?69% gain56.25% gain56.25% loss25%
A cloth merchant used a faulty scale which measured 90 cm instead of 1 metre. He also marked up the price of the cloth material by 20%. If he sells the cloths at marked price, what percentage profit will he obtain?Question 12Answera.25% profitb.35% profitc.20% profitd.25% Loss
A music system when sold for Rs.4500 gives a loss of 16.66% to the merchant who sells it. Calculate his loss or gain per cent, if he sells it for Rs.5703.75.
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.