SOLUTION: Oranges were bought at 6 for Rs 3 and sold at 20 for Rs 40 What is the gain or loss%?

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: Oranges were bought at 6 for Rs 3 and sold at 20 for Rs 40 What is the gain or loss%?      Log On


   

Question 723787: Oranges were bought at 6 for Rs 3 and sold at 20 for Rs 40
What is the gain or loss%?
Answer by Simnepi(216) About Me  (Show Source):
You can put this solution on YOUR website!
the percentage profit is found by
%28%28actual_profit%29%2F%28original_cost%29%29%2A100%25
the actual profit is the difference between the cost price and the selling price
so we have
cost price = 0.5 per orange
selling price = 2 per orange
actual profit = 1.5 per orange
now we can make our fraction
percentage profit = %28%281.5%29%2F%280.5%29%29%2A100%25
using a calculator we find
percentage profit = 300%