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 2/7 % gain
- A. 14 2/7 % gain
- B. 15 % gain
- C. 14 2/7 % loss
- D. 15 % loss
Explanation
Cost price of 1 orange = Rs (350/100)=3.50 Selling price of 1 orange= (48/12)=4 Gain % = (0.5/3.5 x 100) % = 100/7 % = 14 2/7% Option A: Cost price of 1 orange = Rs (350/100)=3.50 Selling price of 1 orange= (48/12)=4 Gain % = (0.5/3.5 x 100) % = 100/7 % = 14 2/7%
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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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