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Select the correct answerA 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

Select the correct answerA 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)?

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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:

  • 3 oranges for Rs.40, so the cost of one orange is Rs.40/3 = Rs.13.33 (approximately)
  • 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 (approximately)

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 (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 have:

Gain percent = ((Rs.16.67 - Rs.12.67) / Rs.12.67) * 100 = 31.5% (approximately)

So, the man makes a gain of approximately 31% on selling the oranges.

This problem has been solved

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