Question

If by selling an article for ₹600, a person loses \( \frac17 \) of its cost price, what would be his gain percentage by selling it for ₹770?

• A. 11%
• B. 10%
• C. 9%
• D. 12%

Hint:

If the loss is \( \frac{1}{n} \) of the cost price, then \[ SP=\frac{n-1}{n}\times CP \] which helps in finding the cost price quickly.

Answer 1

The Correct Option is B

Step 1: Find the cost price.
Given loss \[ =\frac17 \text{ of CP} \] Hence selling price is \[ CP-\frac17CP = \frac67CP \] Given, \[ \frac67CP=600 \] Therefore, \[ CP=600\times\frac76 =700 \]

Step 2: Calculate gain at selling price ₹770.
\[ \text{Gain}=770-700=70 \]

Step 3: Find gain percentage.
\[ \text{Gain \%} = \frac{70}{700}\times100 \] \[ =10\% \] Hence, \[ \boxed{10\%} \]