A shopkeeper bought 1200 meters of wire at ₹ 5.50 per meter. He sold 60% of it at 10% profit. At what percent profit should he sell the remaining part so that he gets 12% profit on the whole article?
A
Correct answer
Explanation
Total cost = 1200 × 5.50 = ₹6600. Target 12% profit = ₹6600 × 1.12 = ₹7392. First 60% (720m) sold at 10% profit: revenue = 720 × 5.50 × 1.10 = ₹4356. Remaining 40% (480m) must generate ₹7392 - ₹4356 = ₹3036. Cost of remaining wire = 480 × 5.50 = ₹2640. Required profit percentage = (3036 - 2640)/2640 × 100 = 15%.