Question

A shopkeeper purchased two refrigerators for Rs. 20,000 each. On one he made a gain of 5 % and on the other a loss of 10%. Find his overall gain or loss.

Answer 1

Given: Cost of each refrigerator = Rs 20,000

           Gain % on one of the refrigerators = 5%

           Loss % on another refrigerator = 10%

To find: Overall gain or loss

Solution: To find the overall gain or loss, we need to find the overall S.P. of both the refrigerators. For that, first we will calculate the gain and loss amount and further the S.P. of both the refrigerators.

According to the given question,

In case of refrigerator 1

C.P. (Cost Price) of the refrigerator = Rs 20,000

Gain % = 5%

.: Gain % = $\frac{Gain}{C.P.}$ × 100

5 = $\frac{Gain}{20,000}$ × 100

Gain = $\frac{5}{100}$ × 20,000

Gain = Rs 1,000

.: S.P. = C.P. + Gain

         = 20,000 + 1,000

         = Rs 21,000

In case of refrigerator 2

C.P. (Cost Price) of the refrigerator = Rs 20,000

Loss % = 10%

.: Loss % = $\frac{Loss}{C.P.}$ × 100

10 = $\frac{Loss}{20,000}$ × 100

Loss = $\frac{10}{100}$ × 20,000

Loss = Rs 2,000

.: S.P. = C.P. - Loss

         = 20,000 - 2,000

         = Rs 18,000

Overall S.P. of both the refrigerators = Rs 21,000 + Rs 18,000

                                                             = Rs 39,000

Whereas, Overall C.P. of both the refrigerators = Rs 40,000

Hence, C.P. > S.P., which means the shopkeeper had a loss.

.: Loss = C.P. - S.P.

          = 40,000 - 39,000

          = Rs 1,000