Question

A man bought orange at 12 for 30 and sold them at one for 3. What was his gain percent

Answer 1

First, let's calculate the cost price of one orange:

Cost of 12 oranges = $30
Cost of 1 orange = $30 / 12 = $2.50

Next, let's calculate the selling price of one orange:

Selling price of 1 orange = $3

Now, let's calculate the profit made on one orange:

Profit per orange = Selling price - Cost price
Profit per orange = $3 - $2.50 = $0.50

Finally, let's calculate the profit percent:

Profit percent = (Profit / Cost price) * 100
Profit percent = ($0.50 / $2.50) * 100
Profit percent = 0.2 * 100
Profit percent = 20%

Therefore, the man's gain percent on selling oranges was 20%.