A dealer bought an item for 20 sold it for 24 bought it for

Solution

Cost price of item in first purchase=$20

Selling price of item in first purchase=$24

Profit=Selling Price - Cost Price

=$24 - $20 = 4$

Profit percentage=Profit/Cost Price * 100 = 4/24 * 100 = 16.67%

Now in second purchase

Cost Price = $25

Selling Price = $28

Profit = $28 - $25 = $3

Profit Percentage = 3/25*100 = 12%

Now overall Profit= $4+$3 = $7

Total Cost Price = $45

Overall Profit Percentage in two purchases = 7/45*100 = 15.56%