Question

A businessman sold 2/3 of his stock at a gain of 20% and the rest at a gain of 14%. The overall percentage of gain to the businessman is:

Answer 1

Answer:

18%

Step-by-step explanation:

let the CP = x

then CP of 2/3 stock =2x/3

CP of 1/3 stock=x/3

SP of 2/3 stock = (2x/3 * 120/100)

SP of 1/3 stock=(x/3 * 114/100)

total SP=(2x/3 * 6/5)+(x/3 * 57/50)

=(12x/15) + (57x/150)

=(120x+57x)/150

=177x/150

profit =SP-CP

=(177x/150) - x

=27x/150

profit gain = (profit / CP) *100

( 27x/150 *x)100

=9*2

=18%