Question

Lemons are bought at 4 Re1 and sold 3 for Re1. Find profit or loss percentage.

A. 25% profit
B. 33.33% profit
C. 25% loss
D. 33.33% loss

Answer 1

The correct answer is Option B: 33.33% profit. The calculation involves finding the cost and selling price per lemon and then determining the profit percentage from the difference.

Step-by-step explanation:

To calculate the profit or loss percentage from the given scenario where lemons are bought at 4 for Re1 and sold at 3 for Re1, we follow these steps:

1. First, determine the cost price (CP) for one lemon. Since 4 lemons are bought for Re1, the cost price for one lemon is Re1/4.
2. Second, calculate the selling price (SP) for one lemon. As 3 lemons are sold for Re1, the selling price for one lemon is Re1/3.
3. Next, compare the CP and SP to see if there is a profit or loss. Here, SP>CP, indicating a profit.
4. Lastly, the profit per lemon is SP - CP, which equals (Re1/3) - (Re1/4). To find the profit percentage, use the formula: (Profit per lemon / CP per lemon) × 100%.

The calculation yields a 33.33% profit, hence the correct answer is Option B: 33.33% profit.