Ben buys some oranges at the rate of 10 per $. He also buys equal number of oranges at the rate of 12 per $. He mixes them together and sells them at 15 per $. Find his loss or profit percent.
number bought at each price ---- x of them
so cost = x/10 + x/12 = 11x/60
selling price = 2x/15
difference = 2x/15 - 11x/60 = -x/20 , looks like a loss
percent loss = (x/20) / (11x/60)
= (1/20)(60/11) = .2727
or appr 27%
check:
suppose he bough 60 oranges at each price
at 10 oranges per $ , he paid $6.00
at 12 oranges per $, he paid $5.00
so he paid $11 for 120 oranges
selling them at 15 per $, he got back $120/15
or $8.00
so his loss was $3.00
percent loss = 3/11 = .2727..
Ahh !😊
Now I get it.
Thanks
To find Ben's profit or loss percentage, we need to calculate the cost price and the selling price.
Let's assume Ben buys x oranges at the rate of 10 per $, so the cost price for these oranges is 10x dollars.
He also buys an equal number of oranges at the rate of 12 per $, so the cost price for these oranges is 12x dollars.
When he mixes them together, the total cost price of all the oranges is (10x + 12x) = 22x dollars.
Now, let's find the selling price. Ben sells these mixed oranges at the rate of 15 per $, so the selling price is 15x dollars.
To determine the profit or loss percentage, we can use the following formula:
Profit Percentage = [(Selling Price - Cost Price) / Cost Price] * 100
Substituting the values:
Profit Percentage = [(15x - 22x) / 22x] * 100
= [(-7x) / 22x] * 100
= (-7/22) * 100
= -31.82%
Therefore, Ben incurred a loss of 31.82%.