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:
A. 1% loss
B. 2% loss
C. 4% loss
D. 15 gain
Answer: Option C
Solution(By Examveda Team)
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)This Question Belongs to Arithmetic Ability >> Profit And Loss
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Comments ( 16 )
Related Questions on Profit and Loss
A. 45 : 56
B. 45 : 51
C. 47 : 56
D. 47 : 51
A. Rs. 2600
B. Rs. 2700
C. Rs. 2800
D. Rs. 3000
A. A neither losses nor gains
B. A makes a profit of 11%
C. A makes a profit of 20%
D. B loses 20%
A. Rs. 3,750
B. Rs. 3,250
C. Rs. 2,750
D. Rs. 2,250
+20-20-[{-20)×(20)}÷100] = -4% loss
1200*100/120+1200*100/80=2500 c.p
S.p=2400
Loss =2500-2400=100*100/2500=4% loss
I think this formula is not applicable for this problem since formula is for single object sold 2 times and in above problem we have two different objects.
Thank you @Rakesh Sarkar.
Loss on total deal,
= (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%
A man sold two chairs at same price. On one he gained 20% and on the other he lost 20%. His gain or loss in the whole transaction is
if cp is same its no profit no loss...
If sp is same x^2/100( if profit and loss are equal)
Here sp is given .so,
(20^2)/100= 400/100 = 4
you say the sp doesn't matter when doing solution?
Is this solution for two different objects (chairs) or a single objects.?
1st case,
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....
Hope you like...
Thank you..
Hi Pallavi,
Can you give a proper solution that says no loss or no gain in the above problem?
Hi Sir with due respect
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
Please make your solutions more clear. Its hard to understand.
i cant understand this problem...by the above mrthod..plz xplain further clearly...
could not get it.
Formula has been used in it. @Jafar, @Apurv and @Ahamad.