Oranges are bought at 11 for a rupee and an equal number more at 9 a rupee. If these are sold at 10 for a rupee, find the loss or gain percent?
Correct answer: C. 1% loss
- A. 1% gain
- B. 2% gain
- C. 1% loss
- D. 2% loss
Explanation
Take equal quantities of oranges, such as 1 orange bought at each rate. The average cost is (1/11 + 1/9) ÷ 2 = 10/99 rupee per orange, while the selling price is 1/10 rupee, so the loss is (10/99 - 1/10) ÷ (10/99) x 100 = 1%. Students often choose 1% gain by comparing the rates directly instead of averaging the cost per orange.
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About Profit and Loss
Profit and loss compare the cost price and selling price of an item, using profit or loss percentages based on the cost price unless stated otherwise. Questions include marked price, discount, successive discounts, commission, and finding an unknown price, with care needed to distinguish discount from loss.
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