Question

A Shop Keeper sells two bags for Rs. 500 each. On one, he gets 14% profit and on the other he gets 14% loss. His profit or loss in the entire transaction was

Answer 1

Answer:

14 % 500 (profit)

14%500 (loss)

14/100×500

14×5= 70

500+70

570 (profit (

14/100×500

14×5

70

500-70

430 (loss)

total sp=430+570 =1000

total cp=1000

hence no profit no loss

Answer 2

Answer:

loss of Rs.20 i.e. 1.96% or 100/51% or 49/25% .

Step-by-step explanation:

let the CP of the bags be ₹ x and y  respectively.

CP = (SP * 100)/(100 + gain/loss%)

CP for first bag at 14% profit-

CP₁=(500 * 100)/(100+14)

CP₁=₹438.5

CP for second bag at 14% loss-

CP₂=(500 * 100)/(100-14)

CP₂=₹581.5

Total CP-

CP=CP₁+CP₂

CP=₹1020

Total SP-

SP=2*500

SP=₹1000

∵CP>SP

Thus, their is a loss.

loss=CP-SP

Loss=₹20

Loss%=(Loss/CP)*100

Loss%=20*100/1020

Loss%=1.96%