SOLUTION: A trader buys 200 oranges for 60 dollars and sells them at 8 for 12 dollars. what is his gain percent?

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Question 1128067: A trader buys 200 oranges for 60 dollars and sells them at 8 for 12 dollars. what is his gain percent?
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
200 oranges for $60.00 is $0.30 per orange
8 for 12 dollars is $1.50 per orange
That is an increase of $1.20 with original amount $0.30 or 4 times
therefore, 400% gain or profit.