2024 · Q5
A person bought a book at 3/4th of its listed price and sold it at 50% more than its listed price. What is the percentage of gain in the transaction?
Elementary MathematicsProfit and Loss
- A20%
- B40%
- C75%
- D100%
Explanation
Cost price = (3/4) lakh = ₹0.75 lakh and selling price = 1.5 lakh, so the gain is ₹0.75 lakh. Gain percentage = 0.75/0.75 × 100 = 100%. This is expected, since the selling price is exactly twice the cost price, option (d).