Mr Gosh purchased wrist watches worth Rs 60000. He sold one-third of them at a profit of 20% and remaining at a loss of 5%. Calculate his overall profit or loss percentage.

Answer 1

return on 1/3 of the 60000 investment with 20% profit
= (1/3)(1.2)(60,000)
= 24800

return on 2/3 of investment with a 5% loss
= (2/3)(.95(60000)
= 38000
total return = 62000
profit percentage = 2000/60000
= 1/30
= .03333.... or 3 1/3%