A vendor bought 120 shirts at the rate of ₹375 per shirt and sold them for ₹48,600. What is his gain/loss percentage?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. Gain 8%
Cost price = 120 × 375 = 45000
Selling price = 48600
Gain = 48600 − 45000 = 3600
Gain % = (3600 ÷ 45000) × 100 = 3600 ÷ 450 = 8