A shopkeeper bought 11 hair clips for ₹10 and sold 10 for ₹11.Find his gain or loss percent.
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If the price is each, then we have
cost: 110
revenue: 110, with one left over
On the other hand, he made a gain of 10% one each clip sold.
To find the shopkeeper's gain or loss percent, we need to determine the cost price (CP) and the selling price (SP) of the hair clips.
Given:
Cost Price (CP) of 11 hair clips = ₹10
Selling Price (SP) of 10 hair clips = ₹11
To calculate the cost price of one hair clip, we can divide the total cost by the number of hair clips:
CP per hair clip = (Total CP) / (Number of hair clips)
CP per hair clip = ₹10 / 11
Now we can calculate the selling price of one hair clip, using the same logic:
SP per hair clip = (Total SP) / (Number of hair clips)
SP per hair clip = ₹11 / 10
If the selling price per hair clip is more than the cost price per hair clip, the shopkeeper gains. If the selling price per hair clip is less than the cost price per hair clip, the shopkeeper incurs a loss.
Comparing the SP per hair clip and the CP per hair clip:
SP per hair clip = ₹11 / 10 = ₹1.10
CP per hair clip = ₹10 / 11 ≈ ₹0.909
Since SP per hair clip (₹1.10) > CP per hair clip (₹0.909), the shopkeeper gains.
Now we can calculate the gain percentage using the formula:
Gain Percentage = [(Gain / CP) x 100]
where Gain = SP - CP
Gain = ₹1.10 - ₹0.909 = ₹0.191
Substituting the values into the formula:
Gain Percentage = [(₹0.191 / ₹0.909) x 100]
Therefore, the shopkeeper's gain percentage is approximately 21%.