a) 25% gain
b) 25% loss
c) $$12\frac{1}{2}$$% loss
d) $$12\frac{1}{2}$$% gain
Answer: d
Explanation:
18 Cost Price = 16 Selling Price
$$\eqalign{
& \frac{{{\text{CP}}}}{{{\text{SP}}}} = \left. {\frac{{16}}{{18}} = \frac{8}{9}} \right\}{\text{1 unit profit}} \cr
& {\text{Profit}}\% = \frac{1}{8} \times 100 \cr
& \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 12\frac{1}{2}\% {\text{ gain}} \cr} $$
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