Question

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.​

Answer 1

As the shopkeeper bought both phones at Rs. 8000 each.

Total cost price = Rs. 16,000

Assume that the cost price of the 1st phone is Rs. 100

Consider the deal of phone 1,

As it is given, there is 4% loss, the selling price will be = Rs. 96

For CP = 100, SP = 96

So, for CP = 1, SP$=\frac{ 96}{100}$

Now, given, CP = 8000

Hence, SP = $\frac{96}{100} × 8000 = 7680$

SP= $\frac {100}{96} ×8000=7680$

Thus, the selling price of 1st phone = Rs. 7680

Consider the deal of phone 2, there is an 8% profit.

Hence, the selling price will be = Rs. 108

For CP = 100, SP = 108

So, for CP = 1, SP =$\frac{108}{100}$

Now, given CP = 8000

hence, SP = $\frac{108}{100} × 8000 = 8640$

Thus, the selling price of 2nd phone = Rs. 8640

Here, the total selling price will be = Rs. 7680 + Rs. 8640 = 16320

Now, it can be seen that,

Total selling price > total cost price i.e. Rs. 16320 > Rs. 16000

So, there is a profit of Rs. (16320 – 16000) = Rs. 320

Now, the overall profit percentage will be-

Profit% = $(\frac{Profit}{Total\:Cost\:Price}) × 100 =\frac{ 320}{16000 }× 100 = 2$

Therefore, there is a total of 2% profit for the whole transaction.