Select the correct answerA man bought 500 metres of electric wire at 50 paise per metre he sold 50% part at the profit of 5%, at what % profit he sold remaining as to gain 10% on the whole transaction?Options12.50%13%15%20%
Question
Select the correct answerA man bought 500 metres of electric wire at 50 paise per metre he sold 50% part at the profit of 5%, at what % profit he sold remaining as to gain 10% on the whole transaction?Options12.50%13%15%20%
Solution
To solve this problem, we first need to calculate the cost price, the selling price for the first 50% of the wire, and the total selling price to gain a 10% profit.
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The cost price of the wire is 500 metres * 50 paise/metre = 250 Rupees.
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He sold 50% of the wire (250 metres) at a profit of 5%. So, the selling price for the first 250 metres of wire is 250 metres * 50 paise/metre * 1.05 (profit of 5%) = 131.25 Rupees.
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The total selling price to gain a 10% profit on the whole transaction is 250 Rupees * 1.10 (profit of 10%) = 275 Rupees.
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The selling price for the remaining 50% of the wire is the total selling price minus the selling price for the first 50% of the wire. So, it's 275 Rupees - 131.25 Rupees = 143.75 Rupees.
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To find the profit percentage for the remaining 50% of the wire, we use the formula: (Selling Price - Cost Price) / Cost Price * 100%. So, it's (143.75 Rupees - 125 Rupees) / 125 Rupees * 100% = 15%.
So, the correct answer is 15%.
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