Question

Manish bought 1000 pencils for 3000 and sold 200 of these at a gain of 5% . At what gain percent he must sell the remaining pencils so as to gain 15% on the whole transaction

Answer 1

Cost of one pencil = 3000 / 1000 = 3
Sale of 200 pencils at 5% gain = 200 x (3+(3 x 5%)) =630

Sale of 1000 pencils to get a gain of 15% = 1000 x (3+(3 x 15%)) = 3,450
200 Pencils already sold for 630
remaining 800 pencils need to be sold for (3,450 - 630) to get 15% profit on total transaction

ie, 800 pencils to be sold for 2,820

cost of 800 pencils = 800 x 3 =2,400
profit = 2,820 - 2,400 = 420
Percentage of profit to gain on the whole transaction = (420 / 2400) x 100
= 17.5%