Question

Jack bought two cricket bats for $ 560 and $ 240 respectively. He sells the first bat at a gain of 15% and the second one at a loss of 5%. Find his gain or loss per cent in the whole transaction.

Answer 1

First Bat
Cost Price=$560
Selling Price= +15% of 560
Selling Price=Cost Price+$84
Selling Price=560+84
Selling Price=$644

Second Bat
Cost Price=$240
Selling Price= -5% of 240
Selling Price=Cost Price-12
Selling Price=240-12
Selling Price=$228

Total Cost Price=$800
Total Selling Price=$872
Selling Price is greater than Cost Price
Therefore,
Profit=Selling Price-Cost Price
Profit=872-800
Profit=$72
Profit%=Profit/Cost Price×100%
Profit%=72/800×100
Profit%=9%

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