Question : A man buys a machine for Rs. 5,000. After one year, he sells it for Rs. 6000. After two years, again he buys the same machine at Rs. 8,000 and sells it for Rs. 10,000. Find his overall profit percentage for both transactions.
Option 1: 20.23%
Option 2: 23.08%
Option 3: 18.75%
Option 4: 15.23%
Correct Answer: 23.08%
Solution :
For the first time the cost price (CP) = Rs. 5000
Profit = (6000 – 5000) = Rs. 1000
For the second time the CP = Rs. 8000
The profit = (10000 – 8000) = Rs. 2000
Now, the total CP = (5000 + 8000) = Rs. 13000
And, the total profit = (1000 + 2000) = Rs. 3000
So, the overall profit = $\frac{\text{total profit}}{\text{total cost price}}×100=\frac{3000}{13000}×100= 23.08\%$
Hence, the correct answer is 23.08%.
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