Question : Prakash bought 2 items, paying the same price for each of them. He sold one item at a profit of 20% and the other item at a profit of 25%. What is the overall percentage profit he made?
Option 1: 37.5%
Option 2: 24.5%
Option 3: 16.5%
Option 4: 22.5%
New: SSC MTS 2024 Application Form OUT; Direct Link
Don't Miss: Month-wise Current Affairs | Upcoming Government Exams
New: Unlock 10% OFF on PTE Academic. Use Code: 'C360SPL10'
Correct Answer: 22.5%
Solution : Let the cost price of each item be denoted as "C". Let the selling price of the first item be denoted as "S1", and its profit percentage be denoted as "P1". Let the selling price of the second item be denoted as "S2", and its profit percentage be denoted as "P2". The total cost price of the two items is 2C, and the total selling price is S1 + S2. Prakash sold one item at a profit of 20%, so we have: P1 = 20% S1 = $\text{C} + (\frac{\text{P1}}{100}) \times \text{C}$ S1 = $\text{C} + (\frac{20}{100}) \times \text{C}$ = 1.2C Prakash sold the other item at a profit of 25%, so we have: P2 = 25% S2 = $\text{C} + (\frac{\text{P2}}{100}) \times \text{C}$ S2 = $\text{C} + (\frac{25}{100}) \times \text{C}$ = 1.25C Total cost Price = 2C Total selling Price = S1 + S2 = 1.2C + 1.25C = 2.45C The overall percentage profit = $[\frac{(\text{Total selling price} - \text{Total cost price}) }{\text{Total cost price}}] × 100$ Substituting the values, we get: = $[\frac{(2.45\text{C} - 2\text{C}) }{2\text{C}}] × 100$ = $(\frac{0.45\text{C}}{2\text{C}}) × 100$ = 22.5% Hence, the correct answer is 22.5%.
Application | Cutoff | Selection Process | Preparation Tips | Eligibility | Exam Pattern | Admit Card
Question : A man sold an item for Rs. 33,750 and incurred a loss of 25%. At what price should he sell the item to have a profit of 25%?
Question : 15% of the marked price of an item is equal to 25% of its cost price. If a discount of 25% is given on the sale of the item, then what will be the profit percentage?
Question : Peter bought an item at a 20% discount on its original price. He sold it with a 40% increase on the price he bought it. The new sale price is greater than the original price (in percent) by:
Question : There is a profit of 10% when an item is sold at $\frac{5}{6}$ of its actual selling price. What will be the profit percentage on the cost price when the item is sold at its actual selling price?
Question : A person bought an article and sold it at a loss of 10%. If he had bought it for 30% less price and sold it for INR 90 more, then he would have earned a profit of 35%. What is the cost price of the article?
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile