A shopkeeper sells two items at $ 48 each. He
gains 25% on the cost price for
one item and loses 20% on the cost price for the other item. Express his net profit or loses as a Percentage of the total
Cost price of the two items.
Answers
Step-by-step explanation:
Answer is 2.44%.
MARK ME AS BRAINLIEST.
The loss percentage on the whole transaction is 2.44%
Given:
A shopkeeper sells two items at $ 48 each. He gains 25% on the cost price for one item and loses 20% on the cost price for the other item.
To find:
Express his net profit or loses
Solution:
Formula used:
Cost price formula = [ 100/(100 + Profit%) ] × SP
Cost price formula = [ 100/(100 – Loss%) ] × SP
Lost percentage = (Loss/ Cost Price) × 100
From the data
1st item is sold at $ 48 and gains 25%
Using the formulas,
The cost price of 1st item = [ 100/(100 + 25) ] × 48
= [ 100/(125) ] × 48 = 38.4
2nd item is sold at $ 48 and got a loss of 20%
Using the formulas
The cost price of the 2nd item = [ 100/(100 – 20) ] × 48
= [ 100/(80) ] × 48 = 60
Cost price of 2 items = $ 38.4 + $ 60 = 98.4
Selling price of 2 items = 2(48) = 96
Here Selling price < Cost price
Hence, Loss incurred = $ 98.4 - $ 96 = $ 2.4
Loss percentage = (2.4/ 98.4)×100 = 2.44%
Therefore,
The loss percentage on the whole transaction is 2.44%
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