A man sold two chairs for rupees 240 each, gaining 20% on one and losing 20% on the other. Find his total gain or lose percentage.
Answers
Answer:
Given:
The selling price of each chair = Rs 240
Profit = 20%
Loss = 20%
Formula Used:
Profit % = {(S.P - C.P)/C.P} × 100
Loss % = {(C.P - S.P)/C.P} × 100
Where, C.P = Cost Price and S.P = Selling Price
Calculation:
According to the question,
C.P of the first chair is
C.P × (120/100) = 240
⇒ C.P = 200
and C.P of second chair is
C.P × (80/100) = 240
⇒ C.P = 300
The total C.P of two chairs are
⇒ 200 + 300
⇒ 500
The total S.P of two chairs are
⇒ 240 + 240
⇒ 480
So, the S.P is less than the C.P
⇒ Loss % = {(500 - 480)/500} × 100
⇒ 20/5
⇒ 4%
∴ The total loss percentage is 4%.
Given:
The selling price of each chair = Rs 240
Profit = 20%
Loss = 20%
Formula Used:
X - Y - (XY)/100
Where, X = Profit and Y = Loss
Calculation:
20 - 20 - (20 × 20)/100
⇒ -4
⇒ 4% loss
∴ The total loss percentage is 4%.