A man sells two wrist watches at rs.594 each.On one he hains 10% and on the other je loses 10%.Find his gain or loss percent or the whole
Answers
Selling price (SP) of the first watch = rs. 594
Let cost price (CP) of first watch be = X
Keep in mind that watch was bought at 100% and sold at 110% (100 + 10)
X = 594 × 100/110
X = 540
Therefore the CP of watch one is rs. 540
Sp of watch two = rs. 594
Watch was bought at 100% and sold at 90% (100 - 90)
Let Cp of watch two be y
y = 594 × 100/90
y = 660
Therefore cost price of watch two is 660.
Total CP = 660 + 540 = 1200
Total SP = 594 + 594 = 1188
Total loss = 1200 - 1188
= rs. 12
Loss % = (1200 - 1188) /1200 × 100
= 1
Therefore the loss percentage of the whole sale is 1%
Hope this helps.
Find the total selling price:
one watch = Rs 594
two watches = 594 x 2 = Rs 1188
Find the cost price of the one he gain 10%:
Gain = 10%
Selling Price = 100 + 10 = 110%
110% = 594
1% = 594 ÷ 110 = Rs 5.40
100% = 5.4 x 100 = Rs 540
Find the cost price of the one he lost 10%:
Loss = 10%
Selling Price = 100 - 10 = 90%
90% = 594
1% = 594 ÷ 90 = Rs 6.60
100% = 6.6 x 100 = Rs 660
Find the total cost price:
Total cost price = 540 + 660 = Rs 1200
Find profit / loss
1200 > 1188 ⇒ It is a loss
Loss = 1200 - 1188 = Rs 12
Find the loss percentage:
Loss Percentage = loss/cost price x 100
Loss Percentage = 12/1188 x 100 = 1%
Answer: The transaction has a loss of 1%