rrobiinn wrote:if Jon buys equal number of two types of mangoes at the rate of 9 mangoes per dollar and 11 mangoes per dollar, and then sell those at the rate of 10 mangoes per dollar, then what will be his profit or loss?
I can solve it using shortcut method, but now want to learn about how its done actually in details.
To make the math easy, let the number of mangos purchased at each rate be equal to the LCM of 9, 11 and 10:
9*11*10 = 990.
Case 1: 990 mangos purchased at 9 mangos per dollar
Total cost = 990/9 = $110.
The selling rate is 10 mangos per dollar.
Thus:
Total revenue = 990/10 = $99.
Case 2: 990 mangos purchased at 11 mangos per dollar
Total cost = 990/11 = $90.
The selling rate is 10 mangos per dollar.
Thus:
Total revenue = 990/10 = $99.
Cost in case 1 + cost in case 2 = 110+90 = 200.
Revenue in case 1 + revenue in case 2 = 99+99 = 198.
Amount lost = 200-198 = 2.
Percent lost = loss/cost = 2/200 = 1/100 = 1%.
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