A man sold two articles for Rs.800 each.On selling first, he gains 20% and on the other 30%.What is the profit percent in the transaction?24%24.8%25%None of these
Question
A man sold two articles for Rs.800 each.On selling first, he gains 20% and on the other 30%.What is the profit percent in the transaction?24%24.8%25%None of these
Solution
Step 1: First, we need to find the cost price of each article.
For the first article, he gains 20%. So, the selling price is 120% of the cost price. Let's denote the cost price of the first article as CP1. So, 120/100 * CP1 = Rs.800 Solving this, we get CP1 = Rs.800 * 100/120 = Rs.666.67
For the second article, he gains 30%. So, the selling price is 130% of the cost price. Let's denote the cost price of the second article as CP2. So, 130/100 * CP2 = Rs.800 Solving this, we get CP2 = Rs.800 * 100/130 = Rs.615.38
Step 2: Now, we find the total cost price and the total selling price.
Total cost price = CP1 + CP2 = Rs.666.67 + Rs.615.38 = Rs.1282.05 Total selling price = Rs.800 + Rs.800 = Rs.1600
Step 3: Now, we find the total profit and the profit percentage.
Total profit = Total selling price - Total cost price = Rs.1600 - Rs.1282.05 = Rs.317.95
Profit percentage = (Total profit / Total cost price) * 100 = (Rs.317.95 / Rs.1282.05) * 100 = 24.8%
So, the profit percent in the transaction is 24.8%.
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