Question

A woman sells 7/10 of her stock of cutlery at a profit of 30%. The remaining stock is sold at a profit loss of 8%. Find the percentage profit on the sale of the whole stock

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Answer 1

To find the percentage profit on the sale of the whole stock, you need to calculate the profit from selling 7/10 of the stock at a 30% profit and the loss from selling the remaining stock at an 8% loss. Then, calculate the overall profit and the percentage profit.

Step-by-step explanation:

To find the percentage profit on the sale of the whole stock, we need to calculate the overall profit as a percentage of the cost price. Let's break down the steps:

1. Calculate the profit from selling 7/10 of the stock at a 30% profit:

• Profit % = 30%
• Profit from selling 7/10 of the stock = (7/10) * Cost Price * Profit %

Calculate the loss from selling the remaining stock at an 8% loss:

• Loss % = 8%
• Loss from selling the remaining stock = (3/10) * Cost Price * Loss %

Calculate the overall profit:

• Overall profit = Profit from selling 7/10 of the stock - Loss from selling the remaining stock

Calculate the percentage profit:

• Percentage profit = (Overall profit / Cost Price) * 100%

Answer 2

.7(.3) - .3(.08) = .21 - .024 = .186 = 18.6%