A vendor bought candies at 12 for ₹ 20 and sold them at 6 for ₹ 12. Find his percentage gain or loss.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 20% gain.
Formula used:
Gain = Selling price - Cost price ------ (1)
Gain% = (gain/cost price) × 100 ------ (2)
Calculations:
A vendor bought candies at 12 for ₹ 20 and sold them at 6 for ₹ 12.
Cost price of 12 candies = 20
Selling price of 12 candies = 12 × 2 = 24
Using equation (1) and (2)
Gain = 24 - 20 = 4
Gain% = (4/20) × 100 = 20%