A man bought 500 metres of electronic wire at 50 paise per metre. He sold 50% of it at a profit of 5%. At what percent should he sell the remainder so as to gain 10% on the whole transaction?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 15%
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Understanding |
Application |
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A man bought 500 metres of electronic wire at 50 paise per metre. |
So, Cost price of 500 meters = 500 × 0.5 = Rs. 250 Selling price for 10% gain = 250 × 1.1 = Rs. 275 |
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He sold 50% of it at a profit of 5%.
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So, Selling price of 250 meters wire = 250 × 0.50 × 1.05 = Rs. 131.25 |
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Cost price of remaining 250 meters wire = 250/2 = Rs. 125 Selling price of remaining 250 meters wire = 275 – 131.25 = Rs. 143.75 |
Hence, Profit percentage = [(143.75 – 125)/125] × 100 = 15% |