A fruit seller buys some oranges and by selling 40 of them he realizes the cost price of all the ora...........

Quant (SSC) Profit and loss

A fruit-seller buys some oranges and by selling 40% of them he realizes the cost price of all the oranges. As the oranges being to grow over-ripe, he reduces the price and sells 60% of the remaining oranges at one third of the previous rate of profit. The rest of the oranges being rotten are thrown away. The overall percentage of profit is

54%

68%

49%

75%

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Explanation:

1^st Scenario:
Let he bought 100 oranges for 100 rupees
∴ CP = 100/- (Rs 1/- for each orange)
Now, SP of 40 oranges = 100/- (equal to the total cost)
∴ Profit % he earned = 100 - 40 /40 × 100% = 150%
2^nd Scenario:
New, 60% of the remaining oranges = 60 /100 × 60 = 36 oranges
SP of 36 oranges with one third profit he earned earlier = (100 + Gain%)/100 × CP
= 150/100 × 36 = 54/-
(Gain% = As per the question the gain percent in 2nd Scenario is one third of the previous profit %)
Total CP = 100/-
Todal SP = 100 + 54 = 154/-
∴ Profit % = 154 – 100 /100 × 100% = 54%