SOLUTION: a man bought 8 dozen articles at $1.40$ each, he sold 40 of them at a profit of 20%,35 at a loss of 4% and the remainder at a profit of 15% 1)the overall selling price to the near

Question 1125101: a man bought 8 dozen articles at $1.40$ each, he sold 40 of them at a profit of 20%,35 at a loss of 4% and the remainder at a profit of 15%
1)the overall selling price to the nearest dollar is?
2)the overall percentage gain or loss to 2 decimal places
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
he bought 8 dozen articles at $1.40 each.
he sold 40 at a profit of 20%.
he sold 35 at a loss of 5%.
he sold the remainder at a profit of 15%.

8 * 12 = 96
96 - 40 - 35 = 21 remainder.

he sold 40 at a profit of 20% means he made 40 * 1.40 * 1.20 = $67.20.
he sold 35 at a loss of 5% means he made 35 * 1.40 * .95 = $46.55
he sold 21 at a profit of 15% means he made 21 * 1.40 * 1.15 = $33.81

the total he made was 67.20 + 46.55 + 33.81 = $147.56

his total cost was 96 * 1.40 = $134.40.

hit total percent profit was (147.56 - 134.40) / 134.40 = .0979166667 * 100 = 9.79166667 percent.

overall selling price to the nearest dollar is $148.
overall profit to 2 decimal places is 9.79%.

1.2 factor is calculated as x + .10 * x = x * (1 + .1) = 1.2 * x
.95 factor is calculated as x - .05 * x = x * (1 - .05) = .95 * x
1.15 factor is calculated as x + .15 * x = x * (1 + .15) = 1.15 * x

rate = percent rate divided by 100.
rate * 100 = percent rate.

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