A man bought two articles for $300 and $500. If he sells both for $600 each, wha

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Question: A man bought two articles for $300 and $500. If he sells both for $600 each, what is his overall profit percentage?

Options:

Correct Answer: 20%

Solution:

Total Cost Price = 300 + 500 = 800. Total Selling Price = 600 + 600 = 1200. Profit = 1200 - 800 = 400. Profit Percentage = (400/800) * 100 = 50%.

A man bought two articles for $300 and $500. If he sells both for $600 each, what is his overall profit percentage?

A man bought two articles for $300 and $500. If he sells both for $600 each, what is his overall profit percentage?

Step 1: Identify the cost price of the first article, which is $300.
Step 2: Identify the cost price of the second article, which is $500.
Step 3: Calculate the total cost price by adding the two cost prices: 300 + 500 = 800.
Step 4: Identify the selling price of the first article, which is $600.
Step 5: Identify the selling price of the second article, which is also $600.
Step 6: Calculate the total selling price by adding the two selling prices: 600 + 600 = 1200.
Step 7: Calculate the profit by subtracting the total cost price from the total selling price: 1200 - 800 = 400.
Step 8: Calculate the profit percentage by dividing the profit by the total cost price and multiplying by 100: (400 / 800) * 100 = 50.

Cost Price and Selling Price – Understanding the difference between cost price (CP) and selling price (SP) is crucial for calculating profit.
Profit Calculation – Calculating profit as the difference between total selling price and total cost price.
Profit Percentage – Calculating profit percentage using the formula (Profit/Cost Price) * 100.