More Questions from Profit and Loss

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:

Aptitude Profit and Loss Difficulty: Easy
Choose an option
  • A
    14.29% profit
  • B
    12.50% profit
  • C
    10% profit
  • D
    15% profit

Answer

Correct Answer: 14.29% profit

Explanation

Given Data

  • Total oranges bought = 100
  • Total cost (cost price, CP) = Rs. 350
  • Selling rate = Rs. 48 per dozen (12 oranges)
  • Required: overall percentage of profit or loss

Step 1: Compute total selling price (SP)Price per orange = 48 ÷ 12 = Rs. 4SP for 100 oranges = 100 × 4 = Rs. 400

Step 2: Compute absolute profitProfit = SP − CP = 400 − 350 = Rs. 50

Step 3: Profit percentage on costProfit% = (Profit ÷ CP) × 100 = (50 ÷ 350) × 100= 0.142857… × 100 ≈ 14.29% profit

Checks & Common Pitfalls

  • Always convert the dozen rate to a per unit price before scaling.
  • Profit% is always computed on cost, not on selling price (unless explicitly asked).
  • Ensure rounding is consistent to two decimals for percentage reporting.

Final AnswerOverall result is a 14.29% profit.

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