A trader bought 100 oranges at 5 for N40.00 and sold them at 20 for N120.00. Find the profit or loss percent
- 20% profit
- 20% loss
- 25% profit
-
25% loss
The correct answer is: 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%