A mechanic purchased two cars for 57,500 rupees and 65,000 rupees respectively.He sold the first one for a profit of 10% and the second one for a loss of 25% .How much did he lose or gain on both the transactions together? What was his over all percentage profit or loss?
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Answer:In the first case he gains 10%
∴ C. P. of the first car
=110100×9900=Rs.9000
In the second case he loses 10%
∴ C. P. of the second car
=90100×9900=Rs.11000
∴ Total cost of both cars
=9000+11000=Rs.20000
∴ Total S. P. of both cars
=2×9900=Rs.19800
∴ Total loss =20000−19800=Rs.200
∴ % of loss =20000200×100=1%
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