Question : A purchased two articles for Rs. 400 and Rs. 600 respectively and sold at gains of 10% and 20% respectively. What was his overall gain percentage?
Option 1: 16%
Option 2: 20%
Option 3: 18%
Option 4: 15%
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Correct Answer: 16%
Solution : Cost price of the 1st article = Rs. 400 Selling price with a gain of 10% = $\frac{110}{100}\times400=440$ Cost price of the 2nd article = Rs. 600 Selling price with a gain of 20% = $\frac{120}{100}\times600=720$ Total cost price = 400 + 600 = 1000 Total selling price = 440 + 720 = 1160 Gain = selling price – cost price = 1160 – 1000 = 160 $\therefore$ Gain percentage $=\frac{\text{Gain}}{\text{cost price}}\times100=\frac{160}{1000}\times100 = 16\%$ Hence, the correct answer is 16%.
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