Question

A shopkeeper sold two radios each for Rs.792/-. On one he gained 10% whereas on the other he loss 10%.find his gain or loss percent in this transaction?

Answer 1

By formula Note profit =10%,
loss= -10%
A+B+(A×B)/100
10+(-10) +(10×-10)/100
Means 1%loss

Answer 2

Given: Selling price of each radio = Rs. 792/-

           Gain on one radio = 10% and loss on other radio = 10%

To find: Gain or loss % in this transaction

Solution:

Radio 1:

Selling Price (SP) = Rs. 792

Profit (P) = 10%

Cost Price (CP) = ?

∵ $SP = (1 + \frac{P}{100}) \ of \ CP$

⇒ $792 = (1 + \frac{10}{100}) \ of \ CP$

⇒ $792 = \frac{110}{100} \ of \ CP$

⇒ $CP = \frac{792 \ * \ 100}{110} = 720$

Radio 2:

SP = Rs. 792

Loss (L) = 10%

CP = ?

∵$SP = (1 - \frac{L}{100}) \ of \ CP$

⇒ $792 = (1 - \frac{10}{100}) \ of \ CP$

⇒ $792 = \frac{90}{100} \ of \ CP$

⇒ $CP = \frac{792 \ * \ 100}{90} = 880$

Total Cost Price of both the radios = 720 + 880 = Rs. 1600

Total Selling Price of both the radios = 792 + 792 = Rs. 1584

We can see that Cost price > Selling Price, which means that the shopkeeper suffered loss on this transaction.

∵ $Loss = Cost \ Price - Selling \ Price$

          = $1600 - 1584 = Rs. 16$

∵ $Loss$ % $= \frac{Loss}{Cost \ Price} \ * \ 100$

          = $\frac{16}{1600} \ * \ 100 = 1$ %

Hence, the shopkeeper suffered 1 % loss on this transaction.