A trader bought 100 oranges at 5 for N1.20, 20 oranges got spoilt and the remaining were sold at 4 for N1.50. Find the percentage gain or loss

Answer Details

First, let's calculate how much the trader spent on the oranges. The trader bought 100 oranges at 5 for N1.20, which means that the cost of each orange was (N1.20 ÷ 5) = N0.24. Therefore, the total cost of 100 oranges was N0.24 × 100 = N24. Now, 20 of the oranges got spoilt and were not sold. So the trader had 80 oranges left to sell. The remaining 80 oranges were sold at 4 for N1.50, which means that the selling price of each orange was (N1.50 ÷ 4) = N0.375. Therefore, the total revenue from selling 80 oranges was N0.375 × 80 = N30. To calculate the profit or loss, we need to compare the cost and revenue. The cost of buying 100 oranges was N24, but the trader only earned N30 from selling the remaining 80 oranges. So, the trader earned a profit of N30 - N24 = N6. To calculate the percentage gain or loss, we need to use the formula: Percentage gain or loss = (Profit or loss / Cost price) × 100% In this case, the profit was N6, and the cost was N24. Percentage gain or loss = (6/24) × 100% = 25% Therefore, the answer is "25% gain."