Question:
A shopkeeper sold two electric irons at ₹1344 each. He earned 12% profit on one iron and lost 4% on the other. Find his overall profit percentage (correct to 2 decimal places).
A shopkeeper sold two electric irons at ₹1344 each. He earned 12% profit on one iron and lost 4% on the other. Find his overall profit percentage (correct to 2 decimal places).
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CP = SP × 100/(100 ± P%)
Updated On: Apr 21, 2026
- 8.22%
- 3.38%
- 4.35%
- 2.66%
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The Correct Option is B
Solution and Explanation
Step 1: Find cost price of first iron (12% profit).
SP = ₹1344, Profit = 12%.
CP₁ = \(1344 \times \frac{100}{112} = 1200\).
Profit₁ = \(1344 - 1200 = 144\). Step 2: Find cost price of second iron (4% loss).
SP = ₹1344, Loss = 4%.
CP₂ = \(1344 \times \frac{100}{96} = 1400\).
Loss₂ = \(1400 - 1344 = 56\). Step 3: Compute total cost price and total selling price.
Total CP = \(1200 + 1400 = 2600\).
Total SP = \(1344 + 1344 = 2688\). Step 4: Compute overall profit and profit percentage.
Overall profit = \(2688 - 2600 = 88\).
Profit percentage = \(\frac{88}{2600} \times 100 = 3.3846...% \approx 3.38%\).
SP = ₹1344, Profit = 12%.
CP₁ = \(1344 \times \frac{100}{112} = 1200\).
Profit₁ = \(1344 - 1200 = 144\). Step 2: Find cost price of second iron (4% loss).
SP = ₹1344, Loss = 4%.
CP₂ = \(1344 \times \frac{100}{96} = 1400\).
Loss₂ = \(1400 - 1344 = 56\). Step 3: Compute total cost price and total selling price.
Total CP = \(1200 + 1400 = 2600\).
Total SP = \(1344 + 1344 = 2688\). Step 4: Compute overall profit and profit percentage.
Overall profit = \(2688 - 2600 = 88\).
Profit percentage = \(\frac{88}{2600} \times 100 = 3.3846...% \approx 3.38%\).
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