Question

Dave buys a coat for £20, a hat for £15 and a pair of gloves for £5.

Later, he sells the coat at 50% profit. He sells the hat for £18 but has to sell the gloves at a 20% loss.


What is his overall percentage profit?

Answer 1

30%

Explanation:

Purchases:

Coat £20

Hat £15

Gloves for £5

Total amount of purchases: £20 + £15 + £5 = £40

Sales:

Coat at 50% profit: 150% × £20 = 1.5 × £20 = £30

Hat: £18

Gloves at a 20% loss: 80% of £5 = £4

Total amount of sales: £30 + £18 + £4 = £52

Amount of profit: £52 - £40 = £12

Percent of profit: £12 / £40 × 100% = 30%