Multiple choice

Three tables are purchased for Rs. $ 2500$ each. First is sold at a profit of $8\%$, the second is sold at a loss of $3\%$. If their average selling price is Rs. $2575$, find the profit percent on the third

  1. $6\%$
  2. $5\%$
  3. $4\%$
  4. $8\%$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Total cost = 3 * 2500 = 7500. Total selling price = 3 * 2575 = 7725. Profit = 225. Profit on first = 0.08 * 2500 = 200. Loss on second = 0.03 * 2500 = 75. Net profit so far = 125. Profit needed on third = 225 - 125 = 100. Profit percent = (100 / 2500) * 100 = 4%.

AI explanation

The combined selling price of the three tables is 3 multiplied by 2575, equaling 7725 rupees. The selling prices of the first two tables are 2500 plus 8% of 2500 (which is 2700) and 2500 minus 3% of 2500 (which is 2425). The selling price of the third table is 7725 minus 2700 minus 2425, giving 2600 rupees. Since the cost price of the third table was 2500, the profit is 100, yielding a 4% gain.

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