
Given, 11 oranges are bought for Rs. 10 and 10 oranges are sold for Rs. 11. Find the gain/loss percent.
(a) 21% loss
(b) 11% gain
(c) 21% gain
(d) 11% loss
Answer
489.9k+ views
Hint: Find the cost price and selling price of 1 orange from the given information. If selling price is greater than cost price then apply the formula, and if cost price is more then apply the formula, .
Complete step by step answer:
Let us understand the cost price (C.P) and selling price (S.P) first.
Cost price is the price at which an article is purchased whereas selling price is the price at which an article is sold. If the cost price of an article is more than its selling price then we say that loss occurs and if selling price of an article is more than its cost price then we say that gain or profit occurs.
Now, let us come to the question.
Cost price for 11 oranges
Therefore, cost price of 1 orange
Now, selling price of 10 oranges
Therefore, selling price of 1 orange
We can clearly see that the selling price of one orange is more than the cost price of one orange, therefore, we can say that gain occurs.
Now, gain on one orange .
Therefore,
Taking, L.C.M, we get,
Hence, option (c) is the correct answer.
Note:
Here, as you can see, 11 oranges were purchased and 10 items were sold. So, the number of items purchased is not equal to the number of items sold. Therefore, we cannot take the difference directly to gain an amount. We must deal with the same number of oranges bought and sold, so, we found the C.P and S.P of one orange and then the gain %. Also, to find gain% or loss%, always take the cost price in the denominator.
Complete step by step answer:
Let us understand the cost price (C.P) and selling price (S.P) first.
Cost price is the price at which an article is purchased whereas selling price is the price at which an article is sold. If the cost price of an article is more than its selling price then we say that loss occurs and if selling price of an article is more than its cost price then we say that gain or profit occurs.
Now, let us come to the question.
Cost price for 11 oranges
Therefore, cost price of 1 orange
Now, selling price of 10 oranges
Therefore, selling price of 1 orange
We can clearly see that the selling price of one orange is more than the cost price of one orange, therefore, we can say that gain occurs.
Now, gain on one orange
Therefore,
Taking, L.C.M, we get,
Hence, option (c) is the correct answer.
Note:
Here, as you can see, 11 oranges were purchased and 10 items were sold. So, the number of items purchased is not equal to the number of items sold. Therefore, we cannot take the difference directly to gain an amount. We must deal with the same number of oranges bought and sold, so, we found the C.P and S.P of one orange and then the gain %. Also, to find gain% or loss%, always take the cost price in the denominator.
Recently Updated Pages
Express the following as a fraction and simplify a class 7 maths CBSE

The length and width of a rectangle are in ratio of class 7 maths CBSE

The ratio of the income to the expenditure of a family class 7 maths CBSE

How do you write 025 million in scientific notatio class 7 maths CBSE

How do you convert 295 meters per second to kilometers class 7 maths CBSE

Write the following in Roman numerals 25819 class 7 maths CBSE

Trending doubts
A boat goes 24 km upstream and 28 km downstream in class 10 maths CBSE

The British separated Burma Myanmar from India in 1935 class 10 social science CBSE

The Equation xxx + 2 is Satisfied when x is Equal to Class 10 Maths

Why is there a time difference of about 5 hours between class 10 social science CBSE

What are the public facilities provided by the government? Also explain each facility

Difference between mass and weight class 10 physics CBSE
