Multiple choice

A dealer marks articles at a price which gives him a profit of 30%. 6% of the consignment of goods was lost due to fire, 24% was spoiled and had to be sold at half the cost price. If the remainder was sold at the marked price, then what was the dealer's profit or loss percentage on that consignment?

  1. 3% profit

  2. 6% loss

  3. 12% loss

  4. 18% profit

  5. None of these

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A Correct answer
AI explanation

Assume the total cost price of the consignment is 100, meaning the marked price is 130 for a 30% profit. A total of 30% of the goods were lost in the fire or completely spoiled, bringing in zero revenue; the remaining 70% were sold at the marked price, generating 0.70 * 130 = 90 in revenue. The spoiled 24% sold at half the cost price yields a negative revenue in this interpretation, but assuming the text implies only 6% was a total loss and the 24% was sold at half price, the revenue becomes 0.70 * 130 for the good items plus 0.24 * 50 for the half-price items, equaling 91 + 12 = 103. Since the total cost was 100, the profit percentage is 3%.