A merchant earns a profit of 20 by selling a basket containing 80 Oranges whose cost is Rs 240 but h...........

Quant (SSC) Profit and loss

A merchant earns a profit of 20% by selling a basket containing 80 Oranges whose cost is Rs.240 but he gives one-fourth of it to his friend at cost price and sells the remaining oranges. In order to earn the same profit, at what price must he sell each orange?

Rs. 4.80

Rs. 4.90

Rs. 3.80

Rs. 4.50

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Explanation:

CP of 80 Oranges = Rs.240
CP of 1 Orange = Rs.3
CP of 20 Oranges = Rs.60
120% of 240 = 288
SP of remaining 60 Oranges = 288 – 60 = 228
SP of 1 Orange = 228/60 = Rs.3.80