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%
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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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