A trader bought 100 oranges at 5 for N40.00 and 20 for N120.00. Find the profit or loss percent
-
A.
20% profit -
B.
20% loss -
C.
25% profit -
D.
25% loss
Correct Answer: Option D
Explanation
Cost price CP of the 100 oranges = (frac{100}{5}) x N40.00
selling price SP of the 100 oranges = (frac{100}{20}) x N120
= N600.00
so, profit or loss per cent
= (frac{SP – CP}{CP}) x 100%
= (frac{600 – 800}{800}) x 100%
= (frac{-200}{800}) x 100%
Hence, loss per cent = 25%