A Shopkeeper buys sweets at $11$ for a rupee $\large\bf{(₹)}$. He bought an equal number of sweets at $10$ for a rupee. He sold all the sweets at $8$ for a rupee. Find loss or gain percentage.
Please solve this for me. I am not able to understand this statement. Can you also explain the meaning of this problem statement ?
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My previous answer was totally wrong and I apologize. Let me start again.
Per unit, the shopkeeper pays $\frac{1}{11}$ for the first kind of sweets and $\frac{1}{10}$ for the second kind of sweets. This makes an average value of $\frac{21}{220}$ when he buys. When he sells the sweets, he charges $\frac{1}{8}$ per unit. The difference is then $\frac{1}{8}-\frac{21}{220}=\frac{13}{440}$ and this is the profit per unit. Then, dividing the profit per unit by the price paid per unit, this gives $\frac{13}{42}$ which is almost $31$ percents.
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Since the question asks for a percentage we may as well assume that he bought one sweet of each kind for a total of ${1\over11}+{1\over10}={21\over110}$ rupees and sold the two sweets for $2\cdot{1\over8}={1\over4}$ rupees. His gain therefore was ${1\over4}-{21\over110}={13\over220}$ rupees, and these make up the fraction $${13/220\over 21/110}={13\over 42}\doteq 31\%$$ of his initial investment.
He bought each sweet for 100 paisa/10 = 10 paisa; he sold each sweet for 100 paisa/8 = 12.5 paisa.
So the gain% = ( (buying price - selling price) * 100 ) / selling price.