16 Views

Question : A man bought 500 metres of electronic wire at 50 paise per metre. He sold 50% of it at a profit of 5%. At what percentage should he sell the remainder so as to gain 10% on the whole transaction?

Option 1: 13%

Option 2:

12.5%

Option 3:

15%

Option 4:

20%


Team Careers360 6th Jan, 2024
Answer (1)
Team Careers360 8th Jan, 2024

Correct Answer:

15%


Solution : The cost price of the electronic wire = Rs. 0.50 per metre.
The man bought 500 metres, so the total cost price = Rs. 0.50 × 500 = Rs. 250
He sold 50% of it at a profit of 5%.
The selling price of these 250 metres = Rs. 0.50 × 250 × 1.05 = Rs. 131.25
The man wants to gain 10% on the whole transaction.
The total selling price for all 500 metres = Rs. 250 × 1.10 = Rs. 275
The selling price of the remaining 250 metres = Rs. 275 – Rs. 131.25 = Rs. 143.75
The selling price of each of the remaining metres = $\frac{143.75}{ 250}$ = Rs. 0.575
Percentage gain = $\frac{\text{Selling price – Cost price}}{\text{Cost price}}$ × 100%
The percentage gain on each of these metres = $\frac{0.575 - 0.50}{ 0.50}$ × 100 = 15%
Hence, the correct answer is 15%.

SSC CGL Complete Guide

Candidates can download this ebook to know all about SSC CGL.

Download EBook

Know More About

Related Questions

TOEFL ® Registrations 2024
Apply
Accepted by more than 11,000 universities in over 150 countries worldwide
Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books