Multiple choice

Find the profit gained in the two transactions if a person sells 2/3 of a product with a profit of 20% and rest of the product at the cost price.

  1. 10%

  2. 13.33%

  3. 15%

  4. 12.50%

  5. 10.50%
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let total product be 3 units, each costing 1. Total cost = 3. He sells 2 units at 20% profit = 2 * 1.2 = 2.4. He sells 1 unit at cost = 1. Total SP = 3.4. Profit = 0.4. Profit percentage = (0.4 / 3) * 100 = 13.33%.

AI explanation

Assume the cost price of the whole product is Rs. 300, making the cost of two-thirds equal to Rs. 200 and the cost of one-third equal to Rs. 100. The two-thirds portion is sold at a 20 percent profit, so its selling price is 200 multiplied by 1.20, which is Rs. 240. The rest is sold at cost, bringing in Rs. 100 for a total selling price of Rs. 340. The overall profit percentage is calculated as 340 minus 300 divided by 300 multiplied by 100, resulting in 13.33 percent.

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