Oranges are bought at 100 for Rs. 80 and all of them are sold at 80 for Rs. 100. The loss or gain as percent in this transaction is ____ $%$ .

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Detailed Solution

Concept: The loss or gain as percent in this transaction is 56.25%. Oranges are bought at 100 for Rs. 80 and all of them are sold at 80 for Rs. 100.The loss or gain as percent in this transaction is 56.25%. Simple interest is calculated as

S . I . = \frac{P \times R \times T}{100},

where P = Principal, R = Rate of Interest in percent per annum, and T = Time, usually expressed as the number of years. The interest rate is expressed in percentage r percent and is written as

\frac{r}{100}

.
To find the loss or gain percent of the orange.The cost price of an item is the cost of acquisition.The price at which something is sold is its selling price.The difference between the selling price and the item's cost represents the gain or loss.
In this problem, it is stated that 100 oranges are purchased for Rs. 80, i.e., 100 oranges are purchased for Rs.
Then the cost price of each orange is Rs. 80 divided by 100.