Question

A man sold two steel chairs for 500 each. On one he gains
20% and on other, he loses 12%. How much does he gain or
lose in the whole transaction?
Someone pls answer ​

Answer 1

Answer :-

• The profit of the whole transaction is Rs. 15.16.

Step-by-step explanation ::

To Find :-

• The gain or loss in the whole transaction

Solution ::

Given that,

• A man sold two steel chairs for Rs. 500
• One he gains = 20%
• On other he loses = 12%

First we need to find out the cost price of the chairs,

For one chair:

• Selling price = Rs. 500
• Gain% = 20%

∴ Cost Price is,

As we know that,

Cost price = {100} ÷ {(100+gain%)} × Selling Price

=> C.P. = {100} ÷ {(100+20%)} × 500

=> C.P. = {100} ÷ {120} × 500

=> C.P. = {50000} ÷ {120}

=> C.P. = 416.66

For another chair:

• Selling price = Rs. 500
• Loss% = 12%

∴ Cost Price is,

Cost price = {100} ÷ {(100-loss%)} × Selling Price

=> C.P. = {100} ÷ {(100-12%)} × 500

=> C.P. = {100} ÷ {88} × 500

=> C.P. = {50000} ÷ {88}

=> C.P. = 568.18

∴ Now, total cost price and selling price of the chairs:

Total Cost Price of two chairs are,

=> C.P. of one chair + C.P. of another chair

=> Rs. ( 416.66 + 568.18 )

=> Rs. 984.84

Total selling price of two chairs are,

=> S.P. of one chair + S.P. of other chair

=> Rs. ( 500 + 500 )

=> Rs. 1000

Therefore, profit, as

=> Selling price > Cost Price

=> Rs. 1000 > Rs. 984.84

∴ Profit is,

=> Selling price - Cost Price

=> Rs. ( 1000 - 984.84 )

=> Rs. 15.16

∴ The profit of the whole transaction is Rs. 15.16.