A man purchases some oranges at the rate of 3 oranges for Rs.40 and the same quantity at 5 oranges for Rs.60. If he sells all the oranges at the rate of 3 for Rs.50, find his gain or loss percent (to the nearest integer)?
Question
A man purchases some oranges at the rate of 3 oranges for Rs.40 and the same quantity at 5 oranges for Rs.60. If he sells all the oranges at the rate of 3 for Rs.50, find his gain or loss percent (to the nearest integer)?
Solution
Sure, let's solve this step by step.
Step 1: Calculate the cost price of the oranges
The man buys oranges at two different rates:
-
First, he buys 3 oranges for Rs.40. So, the cost of each orange is Rs.40/3 = Rs.13.33 (approximately).
-
Then, he buys the same quantity (3 oranges) at a rate of 5 oranges for Rs.60. So, the cost of each orange is Rs.60/5 = Rs.12.
So, the average cost price of each orange is (Rs.13.33 + Rs.12)/2 = Rs.12.67 (approximately).
Step 2: Calculate the selling price of the oranges
He sells all the oranges at a rate of 3 oranges for Rs.50. So, the selling price of each orange is Rs.50/3 = Rs.16.67 (approximately).
Step 3: Calculate the gain or loss percent
The formula to calculate the gain or loss percent is:
Gain or Loss percent = ((Selling Price - Cost Price)/Cost Price) * 100
Substituting the values, we get:
Gain percent = ((Rs.16.67 - Rs.12.67)/Rs.12.67) * 100 = 31.5% (approximately)
So, the man makes a gain of approximately 31% (to the nearest integer) on selling the oranges.
Similar Questions
A man buy 20 oranges for Rs.15 and sells them at 15 oranges for Rs.18.Find his profit (or) loss percent?20%40%60%70%
Select the correct answerSome fruits are bought at a rate of 11 for 100 rupees and an equal number at a rate of 9 for 100 rupees. If all the fruits are sold at a rate of 10 for 100 rupees, then what is the gain or loss percent in the entire transaction?OptionsGain, 5%Gain, 1%Loss, 1%Loss, 5%
100 oranges are bought for Rs.350/- and sold at the rate of Rs.48 per dozen. The percentage profit or loss is?
Select the correct answerA person bought some oranges at the rate of 3 per rupee. He bought the same number of oranges at the rate of 2 per rupee. He mixes both the types and sells at 5 for rupees 2. In this business he bears a loss of Rs 4. Find out how many oranges he bought in all?Options120 oranges240 oranges180 orangesCan’t be determined
A trader purchases several articles at the rate of 13 for Rs.10 and sells them at the rate of 10 for Rs.13.What is his gain/loss?69% gain56.25% gain56.25% loss25%
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.