A trader bought 100 oranges at 5 for N40.00 and sold them at 20 for N120.00. Find the profit or loss percent
A
20% profit
B
20% loss
C
25% profit
D
25% loss
Verified Correct Answer: D.
Step-by-Step Mathematical Solution
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%
Source: Myschool Past Questions Archive (Record #45942)