Question : The first shirt is sold at twice the selling price of the second shirt. The first shirt is sold at 8% profit and the second shirt is sold at a 3% loss. What is the overall percentage profit on the shirts (Rounded off to two decimal places)?
Option 1: 4.86%
Option 2: 4.07%
Option 3: 4.60%
Option 4: 3.86%
Correct Answer: 4.07%
Solution :
Let the selling price of the second shirt as \(x\).
Then, the selling price of the first shirt is \(2x\).
The cost price of the first shirt is \(\frac{2x}{1.08}\) (since it's sold at 8% profit), and the cost price of the second shirt is \(\frac{x}{0.97}\) (since it's sold at 3% loss).
The total cost price is \(\frac{2x}{1.08} + \frac{x}{0.97}=2.8827x\), and the total selling price is \(2x + x = 3x\).
The overall profit is the total selling price minus the total cost price, which is \(3x - 2.8827x=0.1172x\).
The overall profit percentage = $\frac{\text{Overall profit}}{\text{Overall cost price}} \times 100$
The overall percentage profit = $\frac{0.1172x}{2.8827x} \times 100=4.065\%\approx4.07\%$
Hence, the correct answer is 4.07%.
Related Questions
Know More about
Staff Selection Commission Sub Inspector ...
Result | Eligibility | Application | Selection Process | Cutoff | Admit Card | Preparation Tips
Get Updates Brochure
Your Staff Selection Commission Sub Inspector Exam brochure has been successfully mailed to your registered email id “”.
