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| Topic: Do You Still Remember? Can You Solve This? | |
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uche9aa stated >>> A trader bought 100 oranges at 5 for $1.20, 20 oranges got spoilt and the remaining were sold at 4 for $150. Find the percentage gain or loss Well, excuse me if I question this post; but the 4 @ $150. either seems like a mistake in the placement of the decimal point or the percentage of gain would be a redundant question sense he's already marked up his product to a point that he'd never sell those oranges!!! He'd either have to eat his 80 remaining before they spoiled or give them away or slice them up for the birds/chickens to enjoy! No huge problem Uche9aa; that's why I'd asked first thing this morning ...no harm / no fowl {pardon my pun} I couldn't sell mine highly over priced fruit so I sliced them up and my chickens enjoyed them! See, I too have had a misplaced punctuation FOWL my posts/typing up before and it took me a while to figure out why someone wasn't getting my meaning! Hate that when it happens! So bring on the next QUIZ and we'll do our best to BUST IT as well.  
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gain is 25 %. (after correction of the question) Very smart. You also solved my math equation correctly. This is the correct answer. Spent $24. Made $30. $6 gain. $6 is 25% of $24. |
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Edited by
IamwhoIam1
on
Tue 05/05/15 08:36 PM
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Edited by
Pansytilly
on
Wed 05/06/15 02:49 AM
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A trader bought 100 oranges at 5 for $1.20, 20 oranges got spoilt and the remaining were sold at 4 for $1.50. Find the percentage gain or loss is this a serious economics question? or another one of those, "gotcha" problems? i will dip my foot in the water... assuming that you are referring to profit gained or loss..20% of the oranges was loss due to spoiling, so 20% of potential profit was also loss Mmm..no equation...just eyeballing all the numbers...since i wasnt sure if this was indeed a serious economics/math problem... 20 oranges out of a hundred is 20%... 5 oranges were grouped together to be sold. Which is 20 sets of 5... 5x20=100 The remaining 80 oranges were grouped into 4's. Which is also 20 sets... 4x20=80 So...20 percent if you switch all the numbers around... Whats the answer suppose to be anyway?? Lol...ok...i will dip more than my foot in it when i wake up later...night all   100 oranges at 1.2 per 5 = 0.24 per orange = 24 = invested amount removing the 20 that spoiled, 80 at 1.5 per 4 = 0.375 = 30 = actual amount sold if without the 20% spoilage 100 at 1.5 per 4 = 37.5 = potential selling amount potential amount gains without the spoilage is 37.50 - 24 = 13.50 potential amount gains from total potential selling amount is 13.5/37.5 = 36% potantial amount gains compared to the invested amount is 13.5/24=56.25% potential amount loss due to spoilage is 7.50 = 7.50/37.50 = 20% which is also the same as the percentage of oranges spoilt actual amount gained is 30-24 = 6 actual amount gained from potential amount gained is 6/7.5 = 80%, or 30/37.5 = 80%.... simply put, because 20% was loss actual amount gained from the total potential selling amount is 6/37.5 = 16% actual amount gained from actual amount sold is 6/30 = 20% actual amount gained compared to the invested amount is 6/24 = 25% the percentage of gain depends on which amount you are basing on... the loss is based on the actual number or amount of product that was loss due to spoilage...which is 20% if it is profit you are asking then it should be the amount gained from the total amount sold after subtracting the invested amount...which is 30-24 = 6 then taking that value as a percentage of the total amount for which all the commodity was sold for, which is 6/30 = 20% profit cannot be an amount taken from the invested capital, since profit is not a percentage of the invested amount. what's your answer, uche? 
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What are you talking about? The answer is 25%. You're overthinking.
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lol..just defending my answer of 20% profit
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potential amount loss due to spoilage is 7.50 = 7.50/37.50 = 20% which is also the same as the percentage of oranges spoilt we calculate % profit- loss with respect to cost price. so here you should use 24 instead of 37.50 which is the cost price. |
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Edited by
Pansytilly
on
Wed 05/06/15 03:27 AM
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potential amount loss due to spoilage is 7.50 = 7.50/37.50 = 20% which is also the same as the percentage of oranges spoilt we calculate % profit- loss with respect to cost price. so here you should use 24 instead of 37.50 which is the cost price. it is still 20% at actual cost price the 20 spoiled oranges are 4.80 and 4.80/24 of cost price is actual loss... at it's potential 20 spoiled oranges could have been sold at 7.50 out of the entire batch which could have been sold for 37.50... |
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potential amount loss due to spoilage is 7.50 = 7.50/37.50 = 20% which is also the same as the percentage of oranges spoilt we calculate % profit- loss with respect to cost price. so here you should use 24 instead of 37.50 which is the cost price. it is still 20% at actual cost price the 20 spoiled oranges are 4.80 and 4.80/24 of cost price is actual loss... it is not the loss you are saying this would have been the loss % if rest oranges would have been sold at their cost price after the spoilage. i think you are confused. so just calm down and rethink, you are going in wrong direction. |
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Cost $24
Sales $30 Profit $6 Percentage $6/24 = 25% on realized sales |
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Edited by
Pansytilly
on
Wed 05/06/15 03:46 AM
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i am calm, it is only a game... i am still considering that uche has a "gotcha" moment for this problem of his...lol..you did confuse me there... please explain more thoroughly your point...
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Edited by
prithvii1989
on
Wed 05/06/15 03:59 AM
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i am calm, but you did confuse me there... please explain more thoroughly your point... i am still considering that uche has a "gotcha" moment for this problem of his...lol.. we bought 100 oranges and sold 80 only because of spoilage. we bought 100 oranges at 24$.this is our cost price. we sold 80(because we have 80 only) at 30$. this is our selling price. so overall we spend 24$ and earned 30$. total earning=6$ % gain= (total gain*100)/total cost price =25% ================================================================ % loss=(total loss*100)/total cost price. now think accordingly, you will surely find out that you were thinking wrong. |
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ok
so loss is 31.25% |
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ok so loss is 31.25% ha ha ha. how come there is a loss?? |
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I'm starting to think this is how the IRS calculates my taxes....
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ok so loss is 31.25% ha ha ha. how come there is a loss?? You tell me. Its your equation..
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ok so loss is 31.25% ha ha ha. how come there is a loss?? You tell me. Its your equation.. |
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Here comes my input. Pls dont mind the way I will arrange the detail. I aint using a system,just a mobile phone. Now, if 5 oranges cost $1.2, then 1 orange would cost (1.2/5)=$0.24 Since he bought 100 oranges,the CP would be 100*0.24=$24. Now,since 20 oranges got spoilt,he could only sell 80 oranges. He then sold 4 for $1.50 which means one would cost $(1.50/4)=$0.375 So the SP of 80 oranges would be 80*$0.375=30 So we got; CP=$24 SP=$30 So Gain=$30-$24=$6 %gain=/CP*100%=6/24*100% =1/4*100% =(100/4)% =25% gain. So the correct option is 25% . I hope I didnt make typo mistakes!!!!!! Hahahaha
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Here comes my input. Pls dont mind the way I will arrange the detail. I aint using a system,just a mobile phone. Now, if 5 oranges cost $1.2, then 1 orange would cost (1.2/5)=$0.24 Since he bought 100 oranges,the CP would be 100*0.24=$24. Now,since 20 oranges got spoilt,he could only sell 80 oranges. He then sold 4 for $1.50 which means one would cost $(1.50/4)=$0.375 So the SP of 80 oranges would be 80*$0.375=30 So we got; CP=$24 SP=$30 So Gain=$30-$24=$6 %gain=/CP*100%=6/24*100% =1/4*100% =(100/4)% =25% gain. So the correct option is 25% . I hope I didnt make typo mistakes!!!!!! Hahahaha 'Lovely' (Both the 'puzzle' & the 'explanation')!  Thank You for sharing, 'Mate'!
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I thank all the great minds that contributed to solve this simple maths. I am here to learn and contribute my little knowledge on some issues. Mingle2 is awesome!!
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