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:
Correct answer: A. 14.27 % gain
- A. 14.27 % gain
- B. 15% gain
- C. 14 2/7% loss
- D. 15% loss
Explanation
To find the percentage of profit or loss, first determine the cost price and selling price per orange. The cost price of 1 orange is Rs. 350 divided by 100, which equals Rs. 3.50. The selling price for a dozen (12) oranges is Rs. 48, so the selling price of 1 orange is Rs. 48 divided by 12, which equals Rs. 4.00.The profit per orange is Rs. 4.00 - Rs. 3.50 = Rs. 0.50. To find the profit percentage, divide the profit by the cost price: (0.50 / 3.50) x 100% = 14.27% gain.Thus, Option A is correct. Options B, C, and D are incorrect because they either miscalculate the percentage or mistakenly suggest a loss instead of a gain.
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Quantitative reasoning applies arithmetic and basic algebra to numerical relationships, including percentages, ratios, averages, fractions, proportions, profit and loss, rates, time, work and measurement. Questions focus on translating words into equations, choosing an efficient method and checking whether the result is numerically reasonable.
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