Answer:
His gain percent would have been 8%
Step-by-step explanation:
The key to answering this question is to first calculate the price at which the wheat flour was bought.
Mathematically;
% profit = (selling price-cost price)/cost price * 100%
Let the cost price be $x
Thus;
% profit = (30-x)/x * 100
20 = 100(30-x)/x
20x = 3000-100x
100x + 20x = 3000
120x = 3000
x = 3000/120
x = Rs 25
So let’s assume he sold at Rs 27
His profit would have been 27-25 = 2
His gain or loss percentage would’ve been;
2/25 * 100/1 = 200/25 = 8% (gain, since selling price is greater than the cost price)
