A shopkeeper bought a table for Rs 4600 and a chair for Rs 1800. He sells the table with 10% gain and the chair with 6% gain. Find the overall gain percentage.
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 8
Formula used :
Selling price = Cost price + Profit
Calculations:
Cost price of table = Rs 4600
Cost price of chair = Rs 1800
Selling price of table = 4600 + 4600 × 10/100
= 5060
Selling price of chair = 1800 + 1800 × 6/100
= 1908
Total selling price = 5060 + 1908 = 6968
Total cost price = 4600 + 1800 = 6400
Required gain percent = (6968 - 6400)/6400 × 100
= 71/8 = 8.