A trader marks up his goods by 50%. However, he could sell only one-third of his stock at this price. The half of the remaining stock was sold at a discount of 7.14% and the remaining at a discount of 16.67%. Find the overall percentage profit of the trader.
Explanation:
Let the cost price of the stock = INR 100/-
Market price = 100×150/100= INR 150/-
Selling price = 150/3[100-50/100]+2/3×150/2
×[100-7.14/100]+50×[100-16.67/100]
=50+46.43+41.66= INR 138.09
∴ Required profit percentage
=138.09-100/100×100
=38.09%=38%