A shopkeeper bought two phones for Rs. 8,000 each. After selling the phones, there was a loss of 4% on the 1st phone while a profit of 8% on the 2nd phone. Calculate the overall gain or loss per cent on the whole transaction.
Answers
Answer:
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GIVEN:
The shopkeeper bought both phones at ₹8,000 each.
Total cost price = ₹ 16,000
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TO FIND:
The overall gain or loss %
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\huge\tt{SOLUTION:}SOLUTION:
Assume that the cost price of the 1st phone is ₹100
Considering the deal of phone 1,
As it is given, there is 4% loss, the selling price will be = ₹96
↪CP = 100
↪SP = 96
So, for CP = 1, SP = 96/100
Now,
↪ CP = ₹8000
↪SP = 96/100 × 8000
↪SP = 7680
Thus, the selling price of 1st phone = Rs. 7680
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Assume that the cost price of the 1st phone is ₹100
Considering the deal of phone 2,
There is an 8% profit
↪The selling price will be = ₹108
↪CP = 100
↪SP = 108
So, for CP = 1, SP = 108/100
given CP = ₹8000
Hence,
↪ SP = 108/100 × 8000
↪SP= ₹8640
Thus, the selling price of 2nd phone = Rs. 8640
Given:
A shopkeeper bought two phones for Rs. 8000 each. He sells the first phone at a loss of 4% and also sells the second profit of 8%.
To Find:
Calculate the overall gain percentage or loss percentage.
Solution:
1. The cost of each phone is Rs. 8000, Since the shopkeeper has purchased two phones, the cost of two phones is,
=> Cost of two mobiles = 2 x 8000 = Rs. 16000.
2. Since the first mobile is sold at a loss of 4%,
=> Price at which the first mobile is sold = Cost price - (loss percentage) x Cost price,
=> Selling price of the first mobile = 8000 - (4/100)x8000,
=> Selling price of the first mobile = 8000 - 320,
=> Selling price of first mobile = Rs. 7680.
3. Since the second mobile is sold at a profit of 8%,
=> Price at which the first mobile is sold = Cost price + (profit percentage) x Cost price,
=> Selling price of the first mobile = 8000 + (8/100)x8000,
=> Selling price of the first mobile = 8000 + 640,
=> Selling price of first mobile = Rs. 8640.
3. Total selling price of two mobiles = 8640 + 7680 = 16320.
=> As the Total selling price is greater than the total cost price, the shopkeeper has gained a profit.
=> Profit percentage = (Profit x 100)/Cost price,
=> Profit percentage = (320 x 100)/16000,
=> Profit percentage = 2%.
Therefore, the shopkeeper has gained a profit of 2% after selling both the phones.