A refrigerator and washing machine where bought for rs 16,000 each . The vendor made a loss of 8% on refrigerator and profit of 16% on washing machine.find profit or loss percent on whole transaction
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4% is the answer
explanation :
CP of refrigerator = 16,000
loss on refrigerator = CP × loss %
= 16,000× 8/100
= 160×8
= 1280 Rs.
CP of washing machine = 16,000
profit on washing machine = CP × profit %
= 16,000 × 16/100
= 160×16
= 2560 Rs.
Net profit made by the vendor = 2560-1280
net profit = 1280 Rs.
Total price of both equipments = 2×16,000
= 32,000 Rs.
note that there's a profit in the entire transaction.
therefore, profit percent on whole transaction is
= 1280/32000 × 100
= 1280/320
= 128/32
= 4%
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