A shopkeeper bought a table for ₹4,600 and a chair for ₹1,800. He sells the table with 10% gain and the chair with 6% gain. Find the overall gain percentage.
Answer & explanation
Correct answer: option 2
If there is a profit of x percent that means it is (100 + x)% of the cost price
ATQ,
Cost price of the table = 4,600
Cost price of the chair = 1,800
Now the selling price of the table at 10% profit = 10% of 4600 = 460
selling price of the chair at 6% profit = 6% of 1800 = 108
Total percentage of profit = \(\frac{460 + 108}{4600 + 1800}\) × 100 = $8\frac{7}{8}$%