Question

A refrigerator and a camera were sold for Rs. $12,000$ each. The refrigerator was sold at a loss of $20\%$ of the cost and the camera at a gain of $20\%$ of the cost. The entire transaction results in which one of the following?

• A. No loss or gain
• B. Loss of Rs. $1,000$
• C. Gain of Rs. $1000$
• D. Loss of Rs. $2,000$

Answer 1

The correct option is B Loss of Rs. $1,000$

C.P. of the camera $=\frac{100\times \text{S.P.}}{100+\text{profit}}$

C.P. $=\frac{100\times 12000}{100+20}$

CP $=\frac{100\times 12000}{120}=10000$

CP of the camera $=$ Rs. $10000$

CP of the refrigerator $=\frac{100\times \text{S.P.}}{100-\text{loss}}$

CP $=\frac{100\times 12000}{100-20}$

CP $=\frac{100\times 12000}{80}=15000$

CP of the refrigerator $=$ Rs. $15000$

Total cost $=$ Rs. $25000$

Total SP $=$ Rs. $24000$

Hence, in the entire transaction, there has been a loss of Rs. $1000.$