A fruit seller buys lemons at 2 for a rupee and sells them at 5 for three rupees. His gain percent is?

Appeared in: SGPGI Nursing Officer-2022

Explanation

The cost price (CP) of one lemon is calculated as ₹1 divided by 2, which equals ₹0.50.
The selling price (SP) of one lemon is calculated as ₹3 divided by 5, which equals ₹0.60.
The profit per lemon is the selling price minus the cost price (SP - CP), which is ₹0.60 - ₹0.50 = ₹0.10.
The gain percentage is calculated using the formula (Profit / CP) × 100. Plugging in the values, we get (₹0.10 / ₹0.50) × 100, which equals 20%.

Option A: A 10% gain would mean the profit was only ₹0.05 per lemon (0.05 / 0.50 * 100). This is a result of miscalculation.
Option C: A 15% gain is an incorrect calculation. It does not match the profit margin derived from the given prices.
Option D: A 25% gain would require a profit of ₹0.125 per lemon (0.125 / 0.50 * 100). The actual profit is ₹0.10.

Clinical Relevance

Nursing practice connection: This is primarily an exam-oriented knowledge point with limited direct bedside application, so retain Calculation of profit and loss percentage in a business transaction as background academic context rather than a clinical decision trigger.
While this is a mathematics question, strong numeracy skills are fundamental for nurses.
Nurses perform critical calculations daily, including medication dosages, IV drip rates, and fluid balance monitoring, where accuracy is vital for patient safety.
What if? If the seller sold the lemons at 4 for ₹3, the SP per lemon would be ₹0.75. The profit would be ₹0.25, and the gain percent would be (0.25/0.50) x 100 = 50%.

How to Approach the Question

First, carefully read the problem to identify the cost details and selling details.
Standardize the prices to a single unit. In this case, calculate the cost price of one lemon and the selling price of one lemon.
Calculate the profit by subtracting the cost price from the selling price (Profit = SP - CP).
Apply the formula for gain percentage: Gain % = (Profit / Cost Price) × 100.
Ensure you use the Cost Price as the denominator, as profit percentage is always calculated on the initial investment.
Select the option that matches your calculated percentage.

Concept Tested & Keywords

Concept Tested: Calculation of profit and loss percentage in a business transaction.
Stem keywords: fruit seller, lemons, buys, sells, gain percent
Lead-in keywords: gain percent is

QmlQdyxysc6tQB47sj5gip

Practise the full SGPGI Nursing Officer-2022

Attempt every question from this paper in a timed mock, then review the full solution for each one.