Mrs binder owns a second hand. book shop. she buys 30 good as new books for £3 each. she chooses a selling price that will give her a 40% profit. she sells 3/5 of the books at this price. she then reduced the selling price by 20% and sold the remaining books at this price. calculate mrs binders overall percentage profit on this transaction

Cost of the books = £3 x 30 = £90


Sales from 3/5 of the books :

3/5 of the books = 3/5 x 30 = 18

40% of £3 = 0.4 x £3 = £1.20
Selling Price = £3 + £1.20 = £4.20

Total Sales = £4.20 x 18 = £75.60


Sales from the remaining books :

Remaining books = 30 - 18 = 12

Selling Price = £4.20 - 20% x £4.20
Selling Price = £4.20 - 0.2 x 4.20
Selling Price = £3.36

Sales = £3.36 x 12 = £40.32


Find Percentage Profit :

Total Sales = £75.60 + £40.32 = £115.92

Profit = £115.92 - £90 = £25.92

Percentage Profit = 25.92/90 x 100 = 28.8%


28.8%