A fruit seller buys some mangoes at a rate of 20 for Rs. 3 and sells them at rate of 25 for Rs 4. Find his gain or loss%
Explanation:
Let number of mangoes = 100
CP of 20 = 3 Rs.
∴ CP of 100 = 15 Rs
SP of 25 = 4 Rs
∴ SP of 100 = 16 Rs
∴ Profit =1/15 × 100 = 6.66%
Hence, option (a).
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