A man bought 7 oranges for Rs 13 and sold 10 oranges for Rs 16. Find his profit or loss percentage.
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → \(13\frac{11}{13}\)%
Compare the cost and selling price of the same number of oranges. Taking 70 oranges (the LCM of 7 and 10) keeps the figures whole.
Cost price of 70 oranges \(=10\times13=\) Rs 130
Selling price of 70 oranges \(=7\times16=\) Rs 112
Selling price is less, so it is a loss of \(130-112=\) Rs 18
Loss % \(\displaystyle =\frac{18}{130}\times100=\frac{180}{13}=13\frac{11}{13}\%\)
He makes a loss of \(13\frac{11}{13}\)%.