By selling 32 apples for Rs 30, a man loses 25%. How many apples should be sold for Rs 24, to gain 20% in the transaction?
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → 16
The loss tells us the cost price: selling at a 25% loss means the selling price is 75% of the cost. Once the cost of one apple is known, the selling price for a 20% gain follows.
Rs 30 is 75% of the cost of 32 apples, so cost \(\displaystyle =30\times\frac{100}{75}=\text{Rs }40\)
Cost of one apple \(\displaystyle =\frac{40}{32}=\text{Rs }1.25\)
For a 20% gain, selling price of one apple \(=1.25\times1.2=\text{Rs }1.50\)
Apples to be sold for Rs 24 \(=24\div1.50=16\)