Explanation:
To calculate the gain or loss and the gain or loss percentage for the fruit seller, we need to compare the cost price and the selling price.
Given information:
Cost price of oranges = Rs 48 per dozen
Selling price of oranges = Rs 5 each
(i) To find the gain or loss:
First, we need to determine the cost price of a single orange. Since the cost price is given for a dozen, we divide it by 12 to get the cost price per orange:
Cost price per orange = Rs 48 / 12 = Rs 4
The selling price per orange is Rs 5.
To calculate the gain or loss, we subtract the cost price from the selling price:
Gain or Loss = Selling price - Cost price
= Rs 5 - Rs 4
= Rs 1
Therefore, the fruit seller has a gain of Rs 1.
(ii) To find the gain or loss percentage:
The gain or loss percentage is calculated using the formula:
Gain or Loss Percentage = (Gain or Loss / Cost price) * 100
In this case, the gain is Rs 1 and the cost price is Rs 4.
Gain or Loss Percentage = (1 / 4) * 100
= 25%
Therefore, the fruit seller has a gain of 25%.
Note: It's important to consider factors such as overhead expenses, transportation costs, and other additional costs to determine the actual profit or loss accurately.