A trader bought 100 oranges at 5 for N1.20, 20 oranges got spoilt and the remaining were sold at 4 for N1.50. Find the percentage gain or loss.
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Correct Answer: Option B
Explanation:
Cost price (cp) = (100/5) x N1.20 =N24.00
Selling price (sp) = 100-20 = 80
(80/4) x N1.50 = N30.00
Gain = SP-CP = N30.00-N24.00 = N6.00
Gain% = (gain/CP) x 100 = 25%
Cost price (cp) = (100/5) x N1.20 =N24.00
Selling price (sp) = 100-20 = 80
(80/4) x N1.50 = N30.00
Gain = SP-CP = N30.00-N24.00 = N6.00
Gain% = (gain/CP) x 100 = 25%