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)?Options31% Profit31% Loss32% Profit34% Loss
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)?Options31% Profit31% Loss32% Profit34% Loss
Solution
The problem can be solved in the following steps:
Step 1: Calculate the cost price of the oranges The man buys oranges at two different rates:
- 3 oranges for Rs.40, so the cost of one orange is Rs.40/3 = Rs.13.33
- 5 oranges for Rs.60, so the cost of one orange is Rs.60/5 = Rs.12
The average cost price per orange is (Rs.13.33 + Rs.12)/2 = Rs.12.67
Step 2: Calculate the selling price of the oranges The man sells all the oranges at the rate of 3 for Rs.50, so the selling price of one orange is Rs.50/3 = Rs.16.67
Step 3: Calculate the gain or loss percent The gain or loss percent is calculated as ((Selling Price - Cost Price)/Cost Price) * 100 So, the gain percent is ((Rs.16.67 - Rs.12.67)/Rs.12.67) * 100 = 31.5%
Rounding to the nearest integer, the man makes a 32% profit. So, the correct option is "32% Profit".
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