SOLUTION: a man sold 100 eggs.Eighty of them were sold at a profit of 30 percent while the rest were sold at loss of 40 percent.What is the percentage gain or loss on the whole stock?

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Question 622213: a man sold 100 eggs.Eighty of them were sold at a profit of 30 percent while the rest were sold at loss of 40 percent.What is the percentage gain or loss on the whole stock?
Answer by Edwin McCravy(20059) About Me  (Show Source):
You can put this solution on YOUR website!
Suppose he paid x cents for each egg. So his total cost was 100x cents.

He sold 80 at x+30%x cents each or 1x+.30x or 1.30x, so he took in 80(1.30x)
or 104x cents for those 80 eggs.

He sold 20 at x-40%x each or 1x-.40x or 0.60x, so he took in 20(0.60x)
or 12x cents for those 20 eggs.

So he took in a total of 104x+12x or 116x, so his profit was 116x-100x
cents or 16x cents.

16x cents is 16x%2F%28100x%29 or 16% of the 100x cents he paid for the 100
eggs.

Answer: 16% gain.

Edwin