Two articles were bought for the same price. One was sold at 40%

Question

Two articles were bought for the same price. One was sold at 40% profit and the other was sold at 30% loss. Find the overall percentage of profit/loss made.
A) 5% profit
B) 5% loss
C) 10% profit
D) 10% loss
E) None of these

NewGuy12 · Answer

Choose numbers

100

40% profit = 140
30% loss = 70

70+140-200/200= 10/200

Or 5/100 5 percent profit .

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saraheja · Answer

Cost price be 100x

SP1 = 140x
SP2 = 70x

Total Cost price of two items : 200x
Total Selling price of two items : 210x

Profit/loss = (210x-200x)/200x = 5% profit

rahul16singh28 · Answer

As  CP(x)  =  CP(y)  =  a .....
 SP(x) = 1.4a ,  SP(y) = 0.7a 
Total  CP (x & y) = 2a , Total  SP (x&y) = 2.1a 
 Difference = 0.1a 
 % Profit  =  \frac{0.1a}{2a}

EgmatQuantExpert · Answer

Solution

• Let us assume that the cost price of each article as X.
• Since the first article was sold at a profit of 40%, we can write –
 o SP1 = (1+40%) of X
o SP1 = 1.4 X 
• Since the second article was sold at a loss of 30%, we can write –
 o SP2 = (1 – 30%) of X
o SP2 = 0.7 X 
• Thus, total Selling Price = 1.4X + 0.7X = 2.1 X and 
• Total Cost Price = X + X = 2X
• Total Profit Percentage = (SP/CP -1) * 100 = 2.1X/2X – 1) * 100 = 5%

Correct Answer :    Option A

Regards,
Saquib
Quant Expert
e-GMAT

Abhishek009 · Answer

Let CP be 100 each, so total CP is 200
SP of one item is 140 & SP of the other item is 70 , Total SP is 210
  
So, Total Profit is  \frac{10}{200}*100  = 5% Profit, Answer will be (A)

ScottTargetTestPrep · Answer

We can let the cost of each article be c. Thus total cost of the two articles would be 2c. Since one article make a 40% profit or 0.4c profit and the other article made a 30% loss or 0.3c loss. The total profit made is 0.4c + (-0.3c) = 0.1c. Thus the total profit as a percentage of total cost is:

0.1c/2c = 0.1/2 = 1/20 = 0.05 = 5%

Alternate Solution:

Assume that each item costs $100, for a total cost of $200. The first is sold for $140, and the second is sold for $70. Thus, the total revenue is $210, yielding a profit of 210 - 200 = 10. We see that the $10 profit, as a percentage of $200, is 10/200 = 1/20 = .05, or 5%.

Answer: A

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Two articles were bought for the same price. One was sold at 40%

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