If 20% of the goods are sold at 50% profit, 40% of the goods at 20% loss, 20% of the goods at 5% loss and the remaining at no loss or no profit, then the overall profit percentage is:
Answer & explanation
Correct answer: option 4
Let the total quantity = 100
20% of the quantity is sold at 50% profit means SP of 20% = 150% of 20 = 30
40% of the quantity sold at 20% loss means SP of 40% = 80% 0f 40 = 32
20% of the quantity sold at 5% loss means SP of 20% = 19
Remaining 20% is sold at CP so the SP of 20% = 20
total SP = 30 + 32 + 19 + 20 = 101
CP = 100
So the profit = 101 - 100 = 1%