Q1.A shopkeeper sold two watches for Rs. 920 each. On one watch he
gained 15% and on the other he lost 60%. Find his profit or loss percent.
Answers
Explanation:
✬ Loss % = 40.64 % ✬
Step-by-step explanation:
Given:
Selling price of two watches is Rs 920 each.
On first watch he gained 15%.
On second watch he lost 60%.
To Find:
What is his overall profit or loss percent ?
Solution: We have to find the cost price of both watches.
To find C.P when S.P and profit/loss percent are given, we use following formula
When there is profit ➘
★ C.P = 100/ (100 + Profit %) × S.P ★
When there is loss ➘
★ C.P = 100/ (100 – Loss % ) × S.P ★
[ C.P of first watch ]
➟ 100/(100 + 15) × 920
➟ 100/115 × 920
➟ 92000/115
➟ 800
So C.P of first watch is Rs 800.
[ C.P of second watch ]
➟ 100/(100 – 60) × 920
➟ 100/40 × 920
➟ 92000/40
➟ 2300
So C.P of second watch is Rs 2300.
∴ Total S.P = 920 + 920 = Rs 1840
∴ Total C.P = 800 + 2300 = Rs 3100
On comparison we got that C.P > S.P. It means he suffered a loss.
Loss = C.P – S.P
Loss = 3100 – 1840 = Rs 1260
∴ Loss % = Loss / C.P × 100
⟹ Loss % = 1260/3100 × 100
⟹ Loss % = 126000/3100
⟹ Loss % = 40.64
Hence , he suffers a loss of 40.64 % on whole transaction.