A shopkeeper buys m of electronic wire at paise per m. He sold % of the wire at a profit of %. At what percent should the shopkeeper sell the remaining wire so as to gain % on the whole transaction?
A shopkeeper buys m of electronic wire at paise per m. He sold % of the wire at a profit of %. At what percent should the shopkeeper sell the remaining wire so as to gain % on the whole transaction?
Solution
The shopkeeper bought 500 m of wire at 50 paise per meter, which is ₹0.50 per meter.
Total Cost Price
Total Cost Price
For a 10% profit on the whole transaction:
Profit
Profit
Total Selling Price required
Total Selling Price required
The shopkeeper sold 50% of the wire at 5% profit.
Wire sold
Wire sold
Cost Price of 250 m
Cost Price of 250 m
Profit at 5%
Profit at 5%
Selling Price
Selling Price
Amount still needed from remaining wire:
Required amount
Required amount
The remaining wire is 250 m with Cost Price of ₹125.
This must be sold for ₹143.75.
Profit on remaining wire
Profit on remaining wire
Profit percentage
Profit percentage
Therefore, the shopkeeper should sell the remaining wire at 15% profit.
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