A shopkeeper sold 2 chairs of rs 462, on one he gains 12%and on another he lost 20%. Find net gain orloss
Answers
Answer: Net loss of Rs 19.23.
Step-by-step explanation:
Let the cost price of a chair be x
The shopkeeper sold the first chair at 12% gain.
∴ The selling price of the first chair will be x+12% of x = 28/25x
The shopkeeper sold the second chair at 20% loss.
∴ The selling price of the second chair will be x-20% of x = 4/5x
The total selling price of the two chairs is Rs 462
∴ 28/25x + 4/5x = Rs 462
∴ 48/25x =462
∴ x = 462*25/48 = Rs 240.62
The cost price of a chair is Rs 240.62
The shopkeeper sold the first chair at a profit of 12%
∴ The selling price of the first chair is 240.62+12% = Rs 269.49
The shopkeeper sold the second chair at 20% less
∴ The selling price of the second chair is 240.62-20% = Rs 192.50
On the first chair he made a profit of Rs 269.49- Rs 240.62 = Rs 28.87
On the second chair he made a loss of Rs 240.62-Rs 192.50= Rs 48.10
∴ He made a net loss of Rs Rs 48.10-Rs 28.87 = Rs 19.23.