Multiple choice

A merchant sells his two cars one at 15% loss and another at 12% profit. If the cost prices of the two cars are in the ratio of 1:2, what is his percent profit or loss?

  1. 3% loss

  2. 3% profit

  3. 5% profit

  4. 5% loss

  5. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let cost prices be 100 and 200. Loss on first = 15% of 100 = 15. Profit on second = 12% of 200 = 24. Net profit = 24 - 15 = 9. Total cost = 300. Profit percentage = (9/300) * 100 = 3%.

AI explanation

Using the weighted average method, assume the cost prices of the two cars are 100 and 200, making the total cost 300. The first car sells at a 15% loss, which is a selling price of 85, and the second sells at a 12% profit, which is a selling price of 224. The total selling price is 309, yielding a net profit of 9 on the total cost of 300. This results in a 3% profit.

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