Question
Download Solution PDFA shopkeeper earns 10% on an investment but loses 20% on another investment. If the ratio of the two investments is 2 ∶ 3, then the combined loss percentage is :
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
A shopkeeper earns 10% on an investment but loses 20% on another investment.
The ratio of the two investments is 2 ∶ 3.
Concept used:
Weighted average, W =
W = weighted average
n = number of terms to be averaged
Wi = weights applied to x values
Xi = data values to be averaged
Calculation:
His combined loss percentage
⇒
⇒ -8% (Negative sign indicates loss)
∴ The combined loss percentage is 8%.
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