eitijan wrote:Hi Mitch
Your method seems to be very quick.
But I am not able to understand the logic on this. Could you please elaborate.
This is a MIXTURE problem.
The 54 sold cameras each yield a profit of 20%.
Total profit for the 54 sold cameras = (54)(20).
Since the dealer receives only a 50% refund for the 6 unsold cameras, the 6 unsold cameras each suffer a loss of -50%.
Total loss for the 6 unsold cameras = (6)(-50).
The total profit for the 54 sold cameras is combined with the total loss for the 6 unsold cameras to form a MIXTURE of 60 cameras.
Total profit or loss for the mixture of 60 cameras = 54*20 - 6*50.
To determine the dealer's profit or loss, we calculate the AVERAGE profit or loss for the MIXTURE of 60 cameras.
Average profit or loss for the mixture of 60 cameras = (total profit or loss for the mixture)/(number of cameras) = (54*20 - 6*50)/60 = 13.
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