A person purchased 40 items at some price. He sold some items at a profit of 30% by selling them at a price equal to the cost price of 26 items. The remaining items are sold at 18% profit. The total profit percentage is:
Answer & explanation
Correct answer: option 4
Let the cost price of all 40 items = 40
According to the question = He sold some items at a profit of 30% by selling them at a price equal to the cost price of 26 items
Means, 130% of some items = 26
then 100% of some items = 20
So, selling price of 20 items = 26
Selling price of remaining ( 40 - 20 = 20) items at 18% profit = 118% of 20 = 23.6
Total selling price = 26 + 23.6 = 49.6
Cost price = 40
Profit = 49.6 - 40 = 9.6
Profit% = 9.6 × \(\frac{100}{40}\) = 24%