A man buys apples at a certain price per dozen and sells them at eight times per hundred. What does he Gain or Loss %?
Explanation:
Easiest way to solve such problems is to assume some simple values
Let 120 apples be purchased at Rs. 12/dozen
Thus, total cost of purchase = Rs. 12 × 10 dozen = Rs. 120
Now, SP = Rs. 96 apples/100
⇒ 96/100 × 120 = SP for 120 apples = Rs. 115.20
∴ Loss% = 4.8/120 × 100 = 4%
Hence, option (a).
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