Question

A man sold two steel chairs for Rs 500 each. On one, he gains 20% and on other, he loses 12%. How much does he gain or lose in the whole transaction ?

• A. 1.5% gain
• B. 2% gain
• C. 1.5% loss
• D. 2% loss

Answer 1

The correct option is A 1.5% gain

$\frac{CP}{SP}=\frac{100}{100\pm x}$
$\Rightarrow$ Total CP $=417+568\cong 985$

Since CP < SP

$\therefore$ Profit $=1000-985=15$

$\Rightarrow$ %P $\cong \frac{15}{985}\times 100\cong 1.5$%