A man bought oranges at 12 for 30 naira and sold them at one for 3 naira what was his gain percentage
The man's cost price for one orange is:
30 ÷ 12 = 2.5 naira
His selling price for one orange is 3 naira.
Therefore, his profit per orange is:
3 - 2.5 = 0.5 naira
His profit percentage can be calculated as:
Profit percentage = (Profit ÷ Cost price) x 100
= (0.5 ÷ 2.5) x 100
= 20%
Therefore, the man's gain percentage is 20%.
To calculate the gain percentage, we need to compare the profit made with the cost price.
Step 1: Calculate the cost price per orange.
Cost price per orange = Total cost / Total number of oranges purchased
Cost price per orange = 30 naira / 12 oranges
Cost price per orange = 2.5 naira
Step 2: Calculate the selling price per orange.
Selling price per orange = Total selling price / Total number of oranges sold
Selling price per orange = 3 naira / 1 orange
Selling price per orange = 3 naira
Step 3: Calculate the profit per orange.
Profit per orange = Selling price per orange - Cost price per orange
Profit per orange = 3 naira - 2.5 naira
Profit per orange = 0.5 naira
Step 4: Calculate the gain percentage.
Gain percentage = (Profit per orange / Cost price per orange) x 100
Gain percentage = (0.5 naira / 2.5 naira) x 100
Gain percentage = 0.2 x 100
Gain percentage = 20%
Therefore, the man's gain percentage is 20%.
To calculate the gain percentage, we need to compare the profit made to the cost price. Let's break it down step by step:
1. Find the cost price per orange:
The man bought 12 oranges for 30 naira, so the cost price per orange is 30 naira divided by 12 oranges, which is 2.5 naira.
2. Find the selling price per orange:
The man sold one orange for 3 naira.
3. Find the profit per orange:
To find the profit per orange, subtract the cost price from the selling price.
Profit per orange = Selling price - Cost price
Profit per orange = 3 naira - 2.5 naira
Profit per orange = 0.5 naira
4. Calculate the profit percentage:
Profit percentage = (Profit per orange / Cost price per orange) * 100
Profit percentage = (0.5 naira / 2.5 naira) * 100
Profit percentage = (0.2) * 100
Profit percentage = 20%
Therefore, the man's gain percentage is 20%.