A person marks his goods 40% above the cost price. He sold 30% of goods at…
2020
A person marks his goods 40% above the cost price. He sold 30% of goods at marked price, 60% of the remaining at a discount of 20% and remaining at 40% discount. What is his overall gain percent?
- A.
15.8%
- B.
12.56%
- C.
23.5%
- D.
27.4%
Attempted by 54 students.
Show answer & explanation
Correct answer: B
Assume total Cost Price (CP) of all goods = Rs. 100
Marked 40% above CP:
Marked Price (MP) = 140
Step 1: 30% goods sold at MP
Profit = 40%
Contribution to SP:
30% of 140
= 42
Step 2: 60% of remaining goods sold at 20% discount
Remaining goods after first sale:
100% − 30% = 70%
60% of remaining:
= 60% of 70%
= 42% of total goods
Selling price after 20% discount:
140 × 80/100 = 112
Contribution:
42% of 112
= 47.04
Step 3: Remaining goods sold at 40% discount
Remaining quantity:
100% − 30% − 42%
= 28%
Selling price after 40% discount:
140 × 60/100 = 84
Contribution:
28% of 84
= 23.52
Step 4: Total Selling Price
Total SP:
42 + 47.04 + 23.52
= 112.56
Total CP = 100
Profit:
112.56 − 100 = 12.56
Overall gain %:
12.56%