A merchant sold a table for ₹3000. If he gained a profit of 20% then, a) What is the cost price of the table? b) During the festival season, he increased the cost of the table by ₹1000. Then he sold it with a discount of 20%. What is the selling price of the table during the festival season? c) What is the percentage of profit or loss when the table is sold during the festival season?
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Selling Price of each table =3000
Gain on Table1 =20%, Loss on Table2 =20%
For Table1
SP=CP+20% of CP=(
100
120
)×CP
CP=3000×(
120
100
)=2500
For Table2
SP=CP−20% of CP=(
100
80
)×CP
CP=3000×(
80
100
)=3750
Total CP=2500+3750=6250
Total SP=2×3600=6000
Profit or Loss=SP−CP=6000−6250=−250... (Negative means Loss)
Percent loss=(
CP
Loss
)×100=(
6250
250
)×100=4
∴ Loss is 4%
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