A shopkeeper sold two items. The selling price of the first item equals the cost price of the second item. He sold the first item at a profit of 20% and the second item at a loss of 10%. What is his overall profit/loss percent?
Answer & explanation
Correct answer: option 1
CP SP
1st 5 6 (20% Profit)
2nd 10 9 ( 10% Loss)
As, the selling price of the first item equals the cost price of the second item, multiply first item with 5 and second item with 3
CP SP
1st 5 6)×5
2nd 10 9)×3
CP SP
1st 25 30
2nd 30 27
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55 57 = Profit of 2
Profit percentage = \(\frac{2 × 100}{55}\) = Profit, $3 \frac{7}{11} \%$