Question : In a medical transaction, 17 times the cost price is equal to 8 times the sum of the cost price and the selling price. What is the gain or loss percentage?
Option 1: Loss 15%
Option 2: Gain 17.5%
Option 3: Gain 12.5%
Option 4: Loss 30%

Question

Question : In a medical transaction, 17 times the cost price is equal to 8 times the sum of the cost price and the selling price. What is the gain or loss percentage?

Option 1: Loss 15%

Option 2: Gain 17.5%

Option 3: Gain 12.5%

Option 4: Loss 30%

Team Careers360 · Accepted Answer

Correct Answer: Gain 17.5%

Solution : Given:
17 times the cost price is equal to 8 times the sum of the cost price and the selling price.
A.T.Q.,
$\Rightarrow 17{ ext{(Cost Price)}} = 8{ ext{(Cost Price + Selling Price)}}$
$\Rightarrow 9{ ext{(Cost Price)}} = 8{ ext{(Selling Price)}}$
$\Rightarrow \frac{{ ext{(Cost Price)}}}{{ ext{(Selling Price)}}} = \frac{8}{9}$
Now,
Profit percentage = $\frac{ ext{Selling price – Cost price}}{ ext{Cost price}}×100 = \frac{9-8}{8} imes 100= 12.5\%$
Hence, the correct answer is 12.5%.

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Question : In a medical transaction, 17 times the cost price is equal to 8 times the sum of the cost price and the selling price. What is the gain or loss percentage?Option 1: Loss 15%Option 2: Gain 17.5%Option 3: Gain 12.5%Option 4: Loss 30%

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Question : In a medical transaction, 17 times the cost price is equal to 8 times the sum of the cost price and the selling price. What is the gain or loss percentage?
Option 1: Loss 15%
Option 2: Gain 17.5%
Option 3: Gain 12.5%
Option 4: Loss 30%