An antique dealer sold three items, A, B, and C, with their selling prices in the ratio 3:4:5. He suffered a loss of 20% on item A, made a profit of 25% on item B, and broke even on item C. What was his exact percentage gain or loss in the overall deal?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. profit of 0.42%.
Let SP of A, B, and C be 3x, 4x, and 5x, respectively
CP of A = 3x × (100/80) = 3.75x
CP of B = 4x × (100/125) = 3.2x
CP of C = 5x
Total CP = 3.75x + 3.2x + 5x = 11.95x
Total SP = 3x + 4x + 5x = 12x
Profit = 12x - 11.95x = 0.05x
Profit percentage = (0.05x/11.95x) × 100 ≈ 0.42%