Sumit borrowed capital 50000 to start business he suffered a loss of 20 % . He invested remaining capital in other business and made profit of 5 % . How much was his profit or loss on original capital ?...pls give explanation
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Answered by
1
Given,
Money spent by sumit to borrow capital =50,000 Rs.
Loss suffered by sumit in first year=20%
=
100
20
×50,000
The loss suffered by sumit=10,000 Rs.
Remaining capital=50,000−10,000=40,000 Rs.
He uses this capital in sweet business & earns a profit of 5%
Profit=
100
5
×40,000
Profit=2,000 Rs.
Total amount now sumit have=40,000+2000
=42000 Rs.
Net loss of sumit=50,000−42,000
=8000 Rs.
Loss %=
50,000
8000
×100=16%
Hence, sumit has a total loss of 16%
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