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A coconut merchant finds that the cost p...

A coconut merchant finds that the cost price of 2750 coconuts is the same as the selling price of 2500 coconuts. His loss or gain percent will be

A

5% /gain

B

10%/gain

C

15%/loss

D

20% /gain

Text Solution

AI Generated Solution

The correct Answer is:
To solve the problem, we need to determine the loss or gain percentage of the coconut merchant based on the given information. Let's break it down step by step. ### Step-by-Step Solution: 1. **Identify the Given Information:** - Cost Price (CP) of 2750 coconuts = Selling Price (SP) of 2500 coconuts. 2. **Set Up the Equation:** - Let the Cost Price of 1 coconut be \( CP \). - Therefore, the total Cost Price of 2750 coconuts = \( 2750 \times CP \). - Let the Selling Price of 1 coconut be \( SP \). - Therefore, the total Selling Price of 2500 coconuts = \( 2500 \times SP \). From the problem, we have: \[ 2750 \times CP = 2500 \times SP \] 3. **Find the Ratio of CP to SP:** - Rearranging the equation gives us: \[ \frac{CP}{SP} = \frac{2500}{2750} \] - Simplifying the fraction: \[ \frac{CP}{SP} = \frac{2500 \div 250}{2750 \div 250} = \frac{10}{11} \] 4. **Determine the Profit or Loss:** - Since \( CP = 10 \) and \( SP = 11 \), we can see that the selling price is greater than the cost price, indicating a profit. - The profit can be calculated as: \[ \text{Profit} = SP - CP = 11 - 10 = 1 \] 5. **Calculate the Profit Percentage:** - The profit percentage is calculated using the formula: \[ \text{Profit Percentage} = \left( \frac{\text{Profit}}{CP} \right) \times 100 \] - Substituting the values: \[ \text{Profit Percentage} = \left( \frac{1}{10} \right) \times 100 = 10\% \] ### Final Answer: The merchant has a gain of **10%**.
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