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A businessman lost 20% of his goods due to rain. The remaining items were sold at a profit of 50%. The businessman earned an overall profit of:
Explanation
To calculate the overall profit, let us assume the total quantity of goods is 100 units and the cost price (CP) per unit is ₹1. Thus, the total CP is ₹100.
- Goods lost: 20% of 100 = 20 units. These units are lost and yield no revenue.
- Remaining goods: 100 - 20 = 80 units.
- Selling Price (SP) per unit: The remaining items are sold at a 50% profit. SP = CP + 50% of CP = 1 + 0.5 = ₹1.50.
- Total SP: 80 units × ₹1.50 = ₹120.
The overall profit is determined by comparing the total SP to the total CP:
Overall Profit = Total SP - Total CP = ₹120 - ₹100 = ₹20.
Profit Percentage = (20 / 100) × 100 = 20%.
SIMILAR QUESTIONS
A shopkeeper sold a product at 30% loss. Had his selling price been ₹150 more, he would have made a profit of 10%. What was the cost price?
If a shopkeeper sells an item 'A' at 20% profit and item 'B' at 25% profit, then the total profit made is ₹ 120. If he sells item 'A' at 25% profit and item 'B' at 20% profit, then the total profit made is ₹ 105. What is the sum of the cost price of items 'A' and 'B' ?
In a stock clearance sale, a shopkeeper gives 40% off on all his items. He incurs a loss of 25% by selling an item of marked price 2,000. Which one of the following is the cost price of this item?
Ten (10) items of a product are sold for ₹ 100 at 10% profit. If 12 items of the same product are sold for ₹ 100, then the gain/loss (in %) would be :