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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:

14 2⁄7% gain
15% gain
14 2⁄7% loss
15 % loss

Correct Answer: 14 2⁄7% gain

Explanation:

C.P. of 1 orange = Rs.	❨	350	❩	= Rs. 3.50
		100

S.P. of 1 orange = Rs.	❨	48	❩	= Rs. 4
		12

∴ Gain% =	❨	0.50	x 100	❩%	=	100	% = 14	2	%
		3.50				7		7

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