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.
- 30% gain
-
25% gain
- 30% loss
- 25% loss
The correct answer is: 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%