Question

A man sold two chairs for Rs. 500 each on one he gains 20 % and on the other he loses 12 %. His net gain or loss per cent is

(a) 1.5 % gain

(b) 2 % gain

(c) 1.5 % loss

(d) 2 % loss

Answer 1

SP of first chair = Rs. 500

Gain = 20 %

$CP=\frac{500\times 100}{100+20}=\frac{500\times 100}{120}=Rs.\frac{2500}{6}$

SP of second watch = Rs. 500

Loss = 12 %

$CP=\frac{500\times 100}{100-12}=\frac{500\times 100}{88}=Rs.\frac{12500}{22}$

$\therefore TotalSP=Rs.500\times 2=Rs.1000$

and total CP = Rs. $\frac{2500}{6}+\frac{12500}{22}=\frac{27500+37500}{66}=Rs.\frac{65000}{66}Gain=SP-CP=1000-\frac{65000}{66}=\frac{66000-65000}{66}=Rs.\frac{1000}{66}Gain\%=\frac{Totalgain\times 100}{CP}=\frac{1000\times 100\times 66}{66\times 65000}=\frac{100}{65}\%=1.5\%$