100 oranges are bought for Rs.350/- and sold at the rate of Rs.48 per dozen. The percentage profit or loss is?
Question
100 oranges are bought for Rs.350/- and sold at the rate of Rs.48 per dozen. The percentage profit or loss is?
Solution
To calculate the percentage profit or loss, we need to determine the cost price and the selling price.
Step 1: Calculate the cost price per orange. The cost of 100 oranges is Rs. 350/-. Therefore, the cost price per orange is Rs. 350/100 = Rs. 3.50.
Step 2: Calculate the selling price per orange. The selling price per dozen is Rs. 48. Since there are 12 oranges in a dozen, the selling price per orange is Rs. 48/12 = Rs. 4.
Step 3: Calculate the profit or loss per orange. Profit or loss per orange = Selling price per orange - Cost price per orange Profit or loss per orange = Rs. 4 - Rs. 3.50 = Rs. 0.50
Step 4: Calculate the total profit or loss. Total profit or loss = Profit or loss per orange * Number of oranges Total profit or loss = Rs. 0.50 * 100 = Rs. 50
Step 5: Calculate the percentage profit or loss. Percentage profit or loss = (Total profit or loss / Cost price) * 100 Percentage profit or loss = (Rs. 50 / Rs. 350) * 100 = 14.29%
Therefore, the percentage profit or loss is 14.29%.
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