A person purchase 40 items at Rs.10 each. He sells a part of them at 25% profit and the remaining at 10% loss. The net profit is 4% in this transaction. The number of items he sold at a loss, is:
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e 24
Let the number of items he sold at loss be 'x' then the number of items he sold at profit will be '40 - x'
The 25% profit on the cost price of Rs.10 will be Rs. 12.5 & the loss of 10% will be Rs. 9. Total profit 4% will be 400 × 1.04 = Rs. 416
By the given condition
⇒ 12.5(40 - x) + 9x = 416
⇒ 500 - 12.5x + 9x = 416
⇒ -3.5x = -84
⇒ x = 24