SOLUTION: A Fan is sold for Rs 1288. If the gain is 1/6 of the cost price of the fan, what is the gain percentage?

Question 774598: A Fan is sold for Rs 1288. If the gain is 1/6 of the cost price of the fan, what is the gain percentage?
Answer by pakhi(24) (Show Source): You can put this solution on YOUR website!
Let the cost price of the fan be Rs.'x'
So the gain in selling the fan is (1/6)x
Therefore the gain percentage is [{(1/6)x}/x]*100 = (1/6)*100 = 16.67(approx.)
So the gain percentage is 16.67%
Alternative method
Let the cost price of the fan be Rs.'x'
The gain is (1/6)x
So the selling price of the fan is x+(1/6)x=(7/6)x
But the selling price of the fan is Rs.1288.
Therefore (7/6)x = 1288
or x = 1104
So the cost price of the fan is Rs.1104
Therefore the gain is = selling price - cost price = Rs.1288 - Rs.1104 = Rs.184
So the gain in percentage is=(gain/cost price)*100=(184/1104)*100=16.67%(approx.)
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