If goods be purchased for Rs.840 and one-fourth be sold at a loss of 20% at what gain percent should the remainder be sold so as to gain 20% on the whole transaction?
Correct answer: C. 33 1/3%
- A. 30%
- B. 33%
- C. 33 1/3%
- D. 35%General Reference
Explanation
The total desired selling price is Rs.840 x 120/100 = Rs.1,008. One-fourth costs Rs.210 and is sold for Rs.210 x 80/100 = Rs.168, so the remaining three-fourths must sell for Rs.1,008 - Rs.168 = Rs.840; its gain is Rs.210 on Rs.630, or Rs.210/Rs.630 x 100 = 33 1/3%. Students often choose 33% by dropping the recurring fraction.
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Profit and loss compare the cost price and selling price of an item, using profit or loss percentages based on the cost price unless stated otherwise. Questions include marked price, discount, successive discounts, commission, and finding an unknown price, with care needed to distinguish discount from loss.
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