Understanding Loss Percentage from Selling Oranges: A Mathematical Insight
In the world of business, particularly in retail, understanding the impact of sales on cost versus selling price is crucial. This article delves into a practical example of a shopkeeper selling oranges and explores the concept of loss percentage in a relatable scenario.The Scenario
A shopkeeper sells 80 oranges but ends up losing the selling price of 20 oranges. This situation prompts us to calculate the loss percentage and understand how it affects the overall financial health of the business. Let's break down the problem and solution step-by-step.Problem Formulation
The shopkeeper's financial impact can be mathematically expressed as: The shopkeeper sells 80 oranges. The loss is equivalent to the selling price of 20 oranges. From this, we need to determine the loss percentage.Solving the Problem
To solve this, let's assume the selling price of each orange is $1 (for simplicity and ease of calculation, the actual value does not change the percentage outcome).1. Calculate the total selling price of 80 oranges:
Total selling price of 80 oranges 80 oranges x $1/orange $80
2. Calculate the loss:
Total loss Selling price of 20 oranges 20 oranges x $1/orange $20
3. Determine the effective selling price:
Effective selling price Total selling price of 80 oranges - Loss $80 - $20 $60
4. Calculate the loss percentage:
Loss percentage (Loss / Total selling price) x 100 ($20 / $80) x 100 25%
The loss percentage is 25%. This means the shopkeeper loses 25% of the total selling price, equivalent to the selling price of 20 oranges out of the 80 sold.