A retailer marks his goods at a price that he would get a profit of 40%. He sold 40% of the goods at this price, half of the remainings at a discounts of 20% each. Find his loss percent or profit percent on the whole.
A
16.6% profit
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B
16.6% loss
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C
19.6% profit
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D
19.6% loss
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Solution
The correct option is B19.6% profit Lets assume that retailer bought 100 goods @ Rs 100 each He wants 40% profit, then marked price =100+40=Rs140 each He sold 40% goods on M.P =40×140=Rs.5600 Half of remaining at 20% discount, then S.P =140×80×30100=Rs3360 Total price =5600+3360+3000=Rs.11960 Profit =11960−10000=Rs1960 % of profit =1960×10010000=19.60%