Question

A man sold two tables for rs 2970 each on one he gained 10 percent while on the other he lost 10 percent how much percent did he gain or loss in the whole transaction

Answer 1

orginal price of first table = x

2970/x = 110/100

x = 2970 x 100/110 = 2700

Price of first table = Rs 2700

Original price of second table = y

2970/y = 90/100

y = 2970 x 100/90

y = 3300

Orginal price of second table = 3300

profit from first table = 2970 - 2700 = 270

Loss from second table =  3300 - 2970= 330

270 less than 330

so he lost 330 - 270 = Rs 60 in whole transaction

Answer 2

Calculate the Selling Price of the two tables:

one table = Rs 2970

two tables = 2970 x 2 = Rs 5940

Calculate the cost price of the one that he gained 10%:

100 + 10 = 110%

110% = Rs 2970

1% = 2970 ÷ 110 = Rs 27

100% = 27 x 100 = Rs 2700

Calculate the cost price of the one that he lost 10%:

100 - 10 = 90%

90% = Rs 2970

1% = 2970 ÷ 90 = Rs 33

100% = 33 x 100 = Rs 3300

Calculate the total cost price:

Total cost price = 2700 + 3300 = Rs 6000

Calculate the profit / loss:

5940 < 6000 ⇒ Loss

Loss = 6000 - 5940 = Rs 60

Calculate the loss percentage:

Loss percentage = 60/6000 x 100 = 1%

Answer: The transaction has a loss of 1%.