Exams › SSC CGL (Prelims) › Maths

Find the gain percentage, given that Priya sold her scooter for ₹42,564, gaining \(\frac{1}{5}\) of the selling price.

1. 30%
2. 20%
3. 15%
4. 40%

Correct answer: 20%

Solution

Given gain = \(\frac{1}{5}\) of selling price, so \(SP = CP + \frac{1}{5}SP\). This gives \(CP = \frac{4}{5}SP\), hence gain percentage \(= \frac{SP-CP}{CP}\times 100 = \frac{1/5}{4/5}\times 100 = 20\%\).

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