Multiple choice

A man sold two articles for $1200 each. On the first article, he earned 50% profit and on the second article, he suffered a 20% loss. What was his overall profit/loss percentage?

  1. 1.5%

  2. 2.75%

  3. 4.35%

  4. 6.8%

  5. 10%
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Cost 1 = 1200 / 1.5 = 800. Cost 2 = 1200 / 0.8 = 1500. Total Cost = 2300. Total Revenue = 2400. Profit = 100. % Profit = (100/2300) * 100 = 4.347%.

AI explanation

For the first article sold at a 50% profit, the cost price is 1200 divided by 1.50, which equals 800. For the second article sold at a 20% loss, the cost price is 1200 divided by 0.80, which equals 1500. The total cost price is 2300 and the total selling price is 2400, giving a profit of 100. The overall profit percentage is 100 divided by 2300, multiplied by 100, which is approximately 4.35%.

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