Profit & Loss: ICSE Maths || Class 8th

Ques 1: A man bought oranges at 8 for Rs 34 and sold them at 12 for Rs 57. Find his gain or loss percent?

To find the gain or loss percent, we need to compare the cost price (CP) and the selling price (SP) of the oranges.

Given: 

CP of 8 oranges = Rs 34 

SP of 12 oranges = Rs 57

Step 1: Calculate the CP per orange: 

CP per orange = CP / Number of oranges 

CP per orange = 34 / 8 CP per orange = Rs 4.25

Step 2: Calculate the SP per orange: 

SP per orange = SP / Number of oranges 

SP per orange = 57 / 12 SP per orange = Rs 4.75

Step 3: Calculate the profit or loss per orange: 

Profit or loss per orange = SP per orange - CP per orange 

Profit or loss per orange = 4.75 - 4.25 

Profit or loss per orange = Rs 0.50

Step 4: Calculate the profit or loss percentage: 

Profit or loss percentage = (Profit or loss per orange / CP per orange) * 100 

Profit or loss percentage = (0.50 / 4.25) * 100 

Profit or loss percentage = 11.76%

Therefore, the man gained approximately 11.76% by selling the oranges.