Multiple choice

If goods be purchase for Rs.$380$ and $\dfrac {2}{3}$rd be sold at loss of 15%, at what gain percent should the remainder be sold so as to gain $10$% on the whole transaction

  1. $60$%
  2. $70$%
  3. $90$%
  4. $40$%
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Total cost = 380. Target gain = 10% of 380 = 38. Loss on 2/3 (253.33) at 15% = 253.33 * 0.15 = 38. To gain 38 total, the remaining 1/3 (126.67) must cover the 38 loss plus the 38 target gain = 76. Gain % = (76 / 126.67) * 100 = 60%.

AI explanation

Using the method of balancing overall profit or loss, the ratio of parts sold is (2/3) to (1/3), which simplifies to a 2 to 1 ratio. The target overall gain is 10%, and the first part is sold at a 15% loss (-15). Applying the weighted average formula (2 x -15) + (1 x y) = 3 x 10, we solve -30 + y = 30. This yields y = 60, meaning the remaining part must be sold at a 60% gain.