2016 · Q13
A man buys apples at a certain price per dozen and sells them at 8 times price per hundred. What percentage does he gain or lose?
General Mental Ability, Quantitative Aptitude and StatisticsNumber system and arithmetic
- A4% profit
- B6% profit
- C4% loss
- D6% loss
Explanation
Let the price per dozen be ₹12x, so each apple costs ₹x. Buying 100 apples costs ₹100x, while selling them “at 8 times the price per hundred” fetches 8 × ₹12x = ₹96x per hundred. The loss is ₹4x on a cost of ₹100x, i.e. 4%. Hence (C), a 4% loss.