Topic: canonin You bought 24 oranges for $10 and sold 1/ard of it at a 30% loss and 2/3 of it at a 40% profit. The next day, you again bought 24 oranges for $15 and sold 1/3rd of it at a 20% loss. At what loss or profit should you sell the rest of the parts this time to nullify your overall loss or profit? In the end, you should not have any profit or loss from your transactions for the last two days.
Answers
Given :
bought 24 oranges for $10 , sold 1/3rd of it at a 30% loss and 2/3 of it at a 40% profit.
Again bought 24 oranges for $15 and sold 1/3rd of it at a 20% loss.
To Find : At what loss or profit should sell the rest of the parts this time to nullify overall loss or profit
Solution:
bought 24 oranges for $10
bought 24 oranges for $15
Total cost = 10 + 15 = $ 25
bought 24 oranges for $10
=> Per orange cost = 10/24 $
sold 1/3rd of it at a 30% loss
=> (1/3) 24 = 8 sold at (10/24) - (30/100)10/24 = 7/24 $ per orange
Hence selling price of 8 = 8 * 7/24 = 7/3 $
sold 2/3 of it at a 40% profit.
=> (2/3) 24 = 16 sold at (10/24) + (40/100)10/24 = 14/24 $ per orange
Hence selling price of 16 = 16 * 14/24 = 28/3 $
bought 24 oranges for $15
=> Per orange cost = 15/24 $
sold 1/3rd of it at a 20% loss
=> (1/3) 24 = 8 sold at (15/24) - (20/100)15/24 = 12/24 $ per orange
Hence selling price of 8 = 8 * 12/24 = 4 $
Total Selling Price = 7/3 + 28/3 + 4 = 35/3 + 4
Total Cost price = 25 $
Rest to be sold for 25 - (35/3 + 4)
= 28/3 $
Rest oranges = 24 - 8 = 16
Price per orange for selling = (28/3)/16 = 14/24 $
Cost price per orange = 15/24 $
Cost price is more than selling price
Hence Loss per orange = 15/24 - 14/24 = 1/24 $
Loss % = 100 * (1/24)/(15/24)
= 100/15
= 20/3
= 6.67 %
rest of the parts should be sold at 6.67 %
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