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

The correct answer is “14 \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 }