100 oranges are bought at the rate of Rs. 350 and sold at the rate of Rs. 48 per dozen. The percentage of profit or loss is

A. 14 \frac{2}{7} \% \text { gain }
B. 15% gain
C. 14 \frac{2}{7} \% \text { loss }
D. 14 \frac{2}{7} \% \text { profit }

The correct answer is14 \frac{2}{7} \% \text { profit }
Question: 100 oranges are bought at the rate of Rs. 350 and sold at the rate of Rs. 48 per dozen. The percentage of profit or loss is:

Step by Step Solution:

Step: 1
The cost price of 100 oranges = RS. 350
The cost price of 1 orange will be = \frac{350}{100}
The cost price of 1 Orange = RS. 3.50

Step: 2
The sale price of 12 oranges = RS. 48
The sale price of 1 orange will be = \frac{48}{12}
The sale price of 1 orange = RS. 4

Step: 3
As the selling price is more than the cost price, it means there is gain; so will use the gain % formula.

\text { Gain } \%\ =\ \left(\frac{Selling\ price\ -\ Cost\ price}{Cost\ price}\ \times\ 100\right)\%

\text { Gain } \%\ =\ \left(\frac{4\ -\ 3.50}{3.50}\ \times\ 100\right)\%

\text { Gain } \%=\left(\frac{0.50}{3.50} \times 100\right) \%

\text { Gain } \%=\frac{100}{7} \%

by simplifying more;

\text { Gain } \%=14 \frac{2}{7} \% or 14.28%

Hence, the Gain percentage is 14 \frac{2}{7} \% \text { loss }

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