If oranges are bought at $60.00 per dozen and sold at $10 each. What is the profit or loss
What's the answer to the solution
To find the profit or loss, we need to calculate the cost and the revenue.
Cost:
The cost is the amount spent to buy the oranges. We are given that the price of oranges is $60.00 per dozen. Therefore, the cost of one orange is $60.00 / 12 = $5.00.
Revenue:
The revenue is the amount earned from selling the oranges. We are given that each orange is sold for $10.00.
Profit/Loss:
To find the profit or loss, we need to compare the revenue with the cost.
Revenue per orange = $10.00
Cost per orange = $5.00
Profit/Loss per orange = Revenue per orange - Cost per orange
= $10.00 - $5.00
= $5.00
As the profit per orange is $5.00, we can calculate the profit or loss by multiplying the profit per orange with the number of oranges sold.
So, we need the number of oranges sold to determine the profit or loss.
with 12 oranges in a dozen, that makes them $5 each.
So, ...