Question : The cost prices of a table and a chair are INR 400 and 1,200, respectively. The table and the chair are sold at profits of 50% and 20%, respectively. What is the overall profit percentage gained from the two sales taken together?
Option 1: 24.5%
Option 2: 22.5%
Option 3: 27.5%
Option 4: 23.5%
Correct Answer: 27.5%
Solution :
The cost prices of a table = INR 400
The cost prices of a chair = INR 1,200
Profit % or Loss % = $[\frac{(\text{Profit or Loss})}{\text{Cost Price}}] \times 100$
The first article sold at 50% profit
Selling Price = 400 × 150% = 600
The second article sold at 20% profit
Selling Price = 1200 × 120% = 1440
Total cost price = 400 + 1200 = 1600
Total selling price = 600 + 1440 = 2040
Profit = 2040 – 1600 = 440
Profit % = $\frac{440}{1600} \times 100 = 27.5\%$
Hence, the correct answer is 27.5%.
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