Half of the consignment was sold at a profit of 10%. One third of the remaining is sold at a loss of 12% and the remaining at a loss of 6%. What would be the overall gain or loss % if the value of the total consignment was $8850?
- 2.5% loss
- 3% gain
- 1% gain
- 1.5% loss
- None of these
The Usual Method
First you find out the fractional values of the parts
i.e. , and .
Now applying the respective percentages to it,
4425 x 10% = 442.5 (gain)
1475 x 12% = 177.0 (loss)
2950 x 6% = 177.0 (loss)
Hence, the net effect is 442.5 – 177.0 – 177.0 = 88.50 (gain)
Thus there is a net gain of % gain
Estimated Time to arrive at the answer = 75 seconds.
Simply get the fractions and multiply with the respective percentages as shown below:
% (gain) i.e option ‘3’.
This is possible since we are only finding the net percentage and so the absolute value of $8850 cancels out and so is eliminated.
Estimated Time to arrive at the answer = 15 seconds.