Question

A man sold two articles for Rs. 3000 each, gaining 20% on the one and losing 20% on the other. Find his gain (or) loss percent on the whole transaction.

• A. 4% gain
• B. 4% loss
• C. 1% loss
• D. 1% gain

Answer 1

The correct option is B 4% loss

$\Rightarrow$ Total selling price = $Rs.3000+Rs.3000=Rs.6000$.

$\Rightarrow$ Cost price of the first article = $\frac{3000\times 100}{120}=Rs.2500$

$\Rightarrow$ Cost price of the second article = $\frac{3000\times 100}{80}=Rs.3750$.

$\Rightarrow$ Total cost price = $2500+3750=Rs.6250$

$\Rightarrow$ Loss = Total Cost price - Total selling price = $Rs.6250-Rs.6000=Rs.250$

$\Rightarrow$ Loss percentage = $\frac{250}{6250}\times 100=4\%$