A man purchased 120 exercise books at the rate of ₹30 each. He sold \(\frac{1}{3}\) of them at the rate of ₹40 each, \(\frac{1}{2}\) of them at the rate of ₹50 each and the rest at the cost price. His profit percentage was:
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → \(44\frac{4}{9}\%\)
Profit percentage is the profit on the whole lot as a percentage of the total cost price, so find what the 120 books cost and what all three batches sold for.
Cost of 120 books \(=120\times30=3600\)
\(\frac{1}{3}\) of 120 is 40 books, sold at ₹40: \(40\times40=1600\)
\(\frac{1}{2}\) of 120 is 60 books, sold at ₹50: \(60\times50=3000\)
The remaining 20 books, sold at cost: \(20\times30=600\)
Total selling price \(=1600+3000+600=5200\), so profit \(=5200-3600=1600\)
Profit % \(\displaystyle =\frac{1600}{3600}\times100=\frac{400}{9}=44\frac{4}{9}\%\)