8. A business man sold two luxury cars each for 99,000. He made a profit of 10% on one and a loss of
10% on the other. Find his overall loss or gain percent?
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Answer: 1%
Step-by-step explanation:
SP of 1st car=99,000
Profit%=10%
CP of 1st car= 100×SP/100+profit%
=100×99,000/100+10
=99,00,000/110
=90,000
SP of 2nd car=99,000
Loss%=10%
CP of 2nd car=100×SP/100-loss%
=100×99,000/100-10
=99,00,000/90
=1,10,000
Total SP of both cars= 99,000+99,000
= 1,98,000
Total CP of both cars= 90,000+1,10,000
= 2,00,000
SP<CP
Loss= 2,00,000-1,98,000
=2000
Loss%= loss/CP×100
=2,000/2,00,000×100
=2/200×100
=1%
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