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A man sold two chairs at Rs. 1200 each. On one he gained 20% and on the other he loss 20%. His gain or loss in the whole transaction is:
Answer & Solution
Correct Answer:
Option
C
In the case where loss and gain percentage is common on same selling price, always a loss incurs in total deal. And this can be calculated by a short-cut:
Loss on total deal,
$$\eqalign{
& = {\left( {\frac{{{\text{Common loss or gain percentage}}}}{{10}}} \right)^2} \cr
& = {\left( {\frac{{20}}{{10}}} \right)^2} \cr
& = 4\% \cr} $$
Alternatively, It can be also calculated through Graphic Change Method:
This can be given by,
100 == 20% gain ⇒ 120 == 20% loss ⇒ 96
Loss = 4% (As 100 became 96)
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LoginS.p=2400
Loss =2500-2400=100*100/2500=4% loss
= (Common loss or gain percentage /10)2 = (20/10)2
= 4%
what to do if the percentages are different i.e the person gains 10% and loses 20%
If sp is same x^2/100( if profit and loss are equal)
Here sp is given .so,
(20^2)/100= 400/100 = 4
Gain 20 %, so calculating C. P
120 = 1200
100 = 100×1200/120
=1000
that means the article on which 20% gain is incurred having cost price rs. 1000
Now, 2nd case,
As 20% loss is there so (100-20)=80
So, calculating CP
80=1200
100=1200×100/80
=1500
That means the article on which he incurred 20% loss, the cp of that article was rs 1500
Now, his total cp is 1500+1000= 2500
& his total sp is 1200+1200=2400
So his loss 2500-2400=100
Now, his loss percentage is
2500=100
100= 100×100/2500
=4%
So, 4% loss in overall transaction....
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Thank you..
Can you give a proper solution that says no loss or no gain in the above problem?
here correction is needed
the answer should be No loss no profit
and the formula which u have applied is for a single object goes through 20% profit and then 20% loss
but here we have 2 objects