Bunuel wrote:
A ticket broker purchases a certain number of concert tickets at face value with the attempt to resell them at a profit. He is then able to sell 50% of them at a 50% profit, 40% of what he has left at a 10% profit, and the rest at an 80% loss. What was the broker's percent profit or loss on the transaction?
A. 4% loss
B. 3% loss
C. 2% profit
D. 3% profit
E. 4% profit
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Soluton:
assume number of tickets=10
Price of each ticket=100
So total price=10*100=1000
Step1: 50% tickets sold at 50% profit
so 50% profit on each ticket =150,
So sp of 5 tickets=5*150=750
Step 2: 40% of left sold at 10% profit
40% of left=40/100 * 5=2
profit=110
so total sp of 2 tickets=2*110=220
Step 3: Remaining tickets were 3 which were sold at 80% loss
so means they were sold for (100-80)=20
so sp for 3=3*20=60
Now sum all the sp=750 + 220 +60=1030
so profit=1030-1000/1000 *100
30/1000 *100=3 %
Hope clear!!
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