Question

a man sold two painting at 924 each on one he gains 10% and on the other he lost 10% how much does he gain or loss in the whole transaction ​

Answer 1

Answer:

Overall, loss of 1%

Step-by-step explanation:

For first painting

SP = 924

Profit% = 10%

P% = 100* (Profit / CP)

     = 100*[(SP - CP)/CP]

     = 100*[(SP/CP)} - 1

100*(SP/CP) = 1 + P%

(SP/CP) = 1 + (P%/100)

SP = CP * [1 + (P%/ 100)]

924 = CP * (1 + 10/100)

924 = CP * (1 + 0.1)

CP = 924 / 1.1

CP = 840

For second painting

SP = 924

Loss% = L% = 10

L% = [(CP - SP)/CP] * 100

On simplifying,

CP = SP / (1 - (L%/100))

CP = 924/ (1 - 0.1)

CP = 924 / 0.9

CP = 1026.67

For both paintings:

Cost Price = 840 + 1026.67 = 1866.67

Selling Price = 924 + 924 = 1848

As SP < CP, there is loss

Loss = CP - SP

         = 1866.67 - 1848

         = 18.67

Loss% = (Loss/CP)*100

           = 100*(18.67/1866.67)

           = 1

In the overall transaction, there is a loss of 1%