A retailer purchases 50 shirts at $20 each. He sells 30 of them at a 30% profit and the remaining 20 shirts at a 10% loss. What is his overall net percentage profit on the entire batch?
Answer and explanation
Correct answer: B.
- Step 1: Total cost price: 20 = .
- Step 2: Selling price of first 30 shirts (+30% profit): 20 \times 1.30) = 30 \times 780$.
- Step 3: Selling price of remaining 20 shirts (-10% loss): 20 \times 0.90) = 20 \times 360$.
- Step 4: Total revenue: 360 = .
- Step 5: Overall net profit: .
Answer
14.0%.
Why not the others: '' subtracts ; '' underestimates profit.
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