A man sold two steel chairs for Rs. 500 each. On one, he gains 20% and on the other, he loses 12%. How much does he gain or lose in the whole transaction ?
A. 1.5% gain
B. 1.5% loss
C. 2% gain
D. 2% loss
Answer: Option A
Solution(By Examveda Team)
$$\eqalign{ & {\text{Total Selling Price}} \cr & = {\text{Rs}}.\left( {2 \times 500} \right) \cr & = {\text{Rs}}{\text{. }}1000 \cr & {\text{C}}{\text{.P}}{\text{. of first chair}} \cr & = {\text{Rs}}.\left( {\frac{{100}}{{120}} \times 500} \right) \cr & = {\text{Rs}}{\text{.}}\frac{{1250}}{3} \cr & {\text{C}}{\text{.P}}{\text{. of Second chair}} \cr & = {\text{Rs}}.\left( {\frac{{100}}{{88}} \times 500} \right) \cr & = {\text{Rs}}.\frac{{6250}}{{11}} \cr & {\text{Total C}}{\text{.P}}{\text{.}} \cr & = {\text{Rs}}.\left( {\frac{{1250}}{3} + \frac{{6250}}{{11}}} \right) \cr & = {\text{Rs}}.\left( {\frac{{32500}}{{33}}} \right) \cr & {\text{Gain}} = {\text{Rs}}.\left( {1000 - \frac{{32500}}{{33}}} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}.\left( {\frac{{500}}{{33}}} \right) \cr & \therefore {\text{Gain }}\% \cr & = \left( {\frac{{500}}{{33}} \times \frac{{33}}{{32500}} \times 100} \right)\% \cr & = 1.54\% \approx 1.5\% \cr} $$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
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