Question

A used car dealer could only sell two cars over the weekend due to bad weather. He sold a sedan at 15% profit and a minivan at 20% profit. The selling price of the sedan is 25% more than the selling price of the minivan. What is the approximate profit per cent from the sales of both cars together?

• A. 14.57%
• B. 17.73%
• C. 16.87%
• D. 17.17%

Answer 1

The correct option is D 17.17%

Let the CP of the sedan be = S and the CP of the minivan be = M
→ Their SP will be:
Sedan = 1.15S
Minivan = 1.2M
Now, $1.15S=(1+\frac{25}{100})1.2M$
$\to 1.15S=\frac{5}{4}\times 1.2M=1.5M$
So, the ratio of CP will be (Sedan: Minivan) = 30: 23
So, the overall profit % will be = $\frac{(30\times 15)+(23\times 20)}{30+23}=\frac{910}{53}=17.17\%$