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A merchant earns a profit of 20% by selling a basket containing 80 Oranges whose cost is Rs.240 but he gives one-fourth of it to his friend at cost price and sells the remaining oranges. In order to earn the same profit, at what price must he sell each orange?
- a)Rs. 4.80
- b)Rs. 4.90
- c)Rs. 3.80
- d)Rs. 4.50
- e)None of these
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
A merchant earns a profit of 20% by selling a basket containing 80 Ora...
CP of 80 Oranges = Rs.240
CP of 1 Orange = Rs.3
CP of 20 Oranges = Rs.60
120% of 240 = 288
SP of remaining 60 Oranges = 288 – 60 = 228
SP of 1 Orange = 228/60 = Rs.3.80
CP of 1 Orange = Rs.3
CP of 20 Oranges = Rs.60
120% of 240 = 288
SP of remaining 60 Oranges = 288 – 60 = 228
SP of 1 Orange = 228/60 = Rs.3.80
Most Upvoted Answer
A merchant earns a profit of 20% by selling a basket containing 80 Ora...
To solve this problem, we need to calculate the selling price of each orange in order to earn a profit of 20%.
Given:
Cost price of 80 oranges = Rs. 240
Step 1: Calculate the cost price of each orange
The cost price of each orange can be calculated by dividing the total cost by the number of oranges.
Cost price of each orange = Total cost / Number of oranges
Cost price of each orange = 240 / 80 = Rs. 3
Step 2: Calculate the selling price of each orange to earn a profit of 20%
To calculate the selling price, we need to add the profit to the cost price.
Profit percentage = 20%
Profit = (Profit percentage/100) * Cost price
Profit = (20/100) * 3 = Rs. 0.6
Selling price of each orange = Cost price + Profit
Selling price of each orange = 3 + 0.6 = Rs. 3.60
However, the merchant gives one-fourth of the basket to his friend at cost price. So, he sells only 60 oranges to earn a profit.
Step 3: Calculate the selling price of each orange considering only 60 oranges
To calculate the selling price of each orange when selling only 60 oranges, we need to divide the total profit by 60.
Selling price of each orange = Total profit / Number of oranges
Selling price of each orange = 0.6 / 60 = Rs. 0.01
Step 4: Calculate the selling price of each orange for the remaining 20 oranges
To calculate the selling price of each orange for the remaining 20 oranges, we need to add the profit to the cost price.
Selling price of each orange = Cost price + Profit
Selling price of each orange = 3 + 0.6 = Rs. 3.60
Therefore, to earn the same profit of 20%, the merchant must sell each orange at Rs. 3.80 (option C).
Given:
Cost price of 80 oranges = Rs. 240
Step 1: Calculate the cost price of each orange
The cost price of each orange can be calculated by dividing the total cost by the number of oranges.
Cost price of each orange = Total cost / Number of oranges
Cost price of each orange = 240 / 80 = Rs. 3
Step 2: Calculate the selling price of each orange to earn a profit of 20%
To calculate the selling price, we need to add the profit to the cost price.
Profit percentage = 20%
Profit = (Profit percentage/100) * Cost price
Profit = (20/100) * 3 = Rs. 0.6
Selling price of each orange = Cost price + Profit
Selling price of each orange = 3 + 0.6 = Rs. 3.60
However, the merchant gives one-fourth of the basket to his friend at cost price. So, he sells only 60 oranges to earn a profit.
Step 3: Calculate the selling price of each orange considering only 60 oranges
To calculate the selling price of each orange when selling only 60 oranges, we need to divide the total profit by 60.
Selling price of each orange = Total profit / Number of oranges
Selling price of each orange = 0.6 / 60 = Rs. 0.01
Step 4: Calculate the selling price of each orange for the remaining 20 oranges
To calculate the selling price of each orange for the remaining 20 oranges, we need to add the profit to the cost price.
Selling price of each orange = Cost price + Profit
Selling price of each orange = 3 + 0.6 = Rs. 3.60
Therefore, to earn the same profit of 20%, the merchant must sell each orange at Rs. 3.80 (option C).
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A merchant earns a profit of 20% by selling a basket containing 80 Oranges whose cost is Rs.240 but he gives one-fourth of it to his friend at cost price and sells the remaining oranges. In order to earn the same profit, at what price must he sell each orange?a)Rs. 4.80b)Rs. 4.90c)Rs. 3.80d)Rs. 4.50e)None of theseCorrect answer is option 'C'. Can you explain this answer?
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A merchant earns a profit of 20% by selling a basket containing 80 Oranges whose cost is Rs.240 but he gives one-fourth of it to his friend at cost price and sells the remaining oranges. In order to earn the same profit, at what price must he sell each orange?a)Rs. 4.80b)Rs. 4.90c)Rs. 3.80d)Rs. 4.50e)None of theseCorrect answer is option 'C'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about A merchant earns a profit of 20% by selling a basket containing 80 Oranges whose cost is Rs.240 but he gives one-fourth of it to his friend at cost price and sells the remaining oranges. In order to earn the same profit, at what price must he sell each orange?a)Rs. 4.80b)Rs. 4.90c)Rs. 3.80d)Rs. 4.50e)None of theseCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A merchant earns a profit of 20% by selling a basket containing 80 Oranges whose cost is Rs.240 but he gives one-fourth of it to his friend at cost price and sells the remaining oranges. In order to earn the same profit, at what price must he sell each orange?a)Rs. 4.80b)Rs. 4.90c)Rs. 3.80d)Rs. 4.50e)None of theseCorrect answer is option 'C'. Can you explain this answer?.
A merchant earns a profit of 20% by selling a basket containing 80 Oranges whose cost is Rs.240 but he gives one-fourth of it to his friend at cost price and sells the remaining oranges. In order to earn the same profit, at what price must he sell each orange?a)Rs. 4.80b)Rs. 4.90c)Rs. 3.80d)Rs. 4.50e)None of theseCorrect answer is option 'C'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about A merchant earns a profit of 20% by selling a basket containing 80 Oranges whose cost is Rs.240 but he gives one-fourth of it to his friend at cost price and sells the remaining oranges. In order to earn the same profit, at what price must he sell each orange?a)Rs. 4.80b)Rs. 4.90c)Rs. 3.80d)Rs. 4.50e)None of theseCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A merchant earns a profit of 20% by selling a basket containing 80 Oranges whose cost is Rs.240 but he gives one-fourth of it to his friend at cost price and sells the remaining oranges. In order to earn the same profit, at what price must he sell each orange?a)Rs. 4.80b)Rs. 4.90c)Rs. 3.80d)Rs. 4.50e)None of theseCorrect answer is option 'C'. Can you explain this answer?.
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A merchant earns a profit of 20% by selling a basket containing 80 Oranges whose cost is Rs.240 but he gives one-fourth of it to his friend at cost price and sells the remaining oranges. In order to earn the same profit, at what price must he sell each orange?a)Rs. 4.80b)Rs. 4.90c)Rs. 3.80d)Rs. 4.50e)None of theseCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for A merchant earns a profit of 20% by selling a basket containing 80 Oranges whose cost is Rs.240 but he gives one-fourth of it to his friend at cost price and sells the remaining oranges. In order to earn the same profit, at what price must he sell each orange?a)Rs. 4.80b)Rs. 4.90c)Rs. 3.80d)Rs. 4.50e)None of theseCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of A merchant earns a profit of 20% by selling a basket containing 80 Oranges whose cost is Rs.240 but he gives one-fourth of it to his friend at cost price and sells the remaining oranges. In order to earn the same profit, at what price must he sell each orange?a)Rs. 4.80b)Rs. 4.90c)Rs. 3.80d)Rs. 4.50e)None of theseCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
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