Question:
If a selling price of 12 oranges is equal to cost price of 15 oranges, find the loss or gain percent
Answer:
Given SP of 12 oranges = CP of 15 oranges
Let the cost price of 15 oranges = x
So, the cost price of one orange = x/15
Again, SP of 12 oranges = x
So, SP of one orange = x/12
Now, Gain = SP of one orange - CP of one orange
=> Gain = x/12 - x/15
=> Gain = (5 - 4)x/60
=> Gain = x/60
Now, Gain% = (Gain * 100)/CP
=> Gain% = {(x/60) * 100}/(x/15)
=> Gain% = (15 * 100)/60
=> Gain% = 100/4
=> Gain% = 25 %
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