Question

A dealer buys oranges for 100000, he sold 60% of them for buying price, he sold 50% of the remaining for profit of 60% then he sold the remaining for a loss of 10%. Find the overall profit

Answer 1

Based on the amount of oranges bought, those sold at a profit and those sold at a loss, the overall profit is 14.2%

What is the overall profit?

Assume that the buying price was $1 each.

The amount earned from 60% of them is:

= 60% x 100,000 x 1

= $60,000

The profit from selling 50% of the remaining is:

= (50% x 40,000) x 1.60

= $32,000

The loss from selling the other 50%:

= (50% x 40,000) x 0.90

= $22,222.22

Total selling price:

= 60,000 + 32,000 + 22,222.22

= $114,222.22

Total profit:

= (114,222.22 - 100,000) / 100,000

= 14.2%

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