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%
Question
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%
Solution
The first step is to determine the cost price of the fruits.
Let's assume that the number of fruits bought at each rate is 1 unit.
So, the cost of fruits bought at a rate of 11 for 100 rupees is 100/11 = 9.09 rupees per fruit.
Similarly, the cost of fruits bought at a rate of 9 for 100 rupees is 100/9 = 11.11 rupees per fruit.
The average cost price per fruit is therefore (9.09 + 11.11) / 2 = 10.1 rupees.
The selling price of the fruits is 100/10 = 10 rupees per fruit.
Since the selling price is less than the cost price, there is a loss in the transaction.
The loss percent can be calculated as (Loss / Cost price) * 100.
The loss per fruit is 10.1 - 10 = 0.1 rupees.
So, the loss percent is (0.1 / 10.1) * 100 = 0.99%, which is approximately 1%.
Therefore, the correct answer is "Loss, 1%".
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