Question

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

• A. No loss no gain
• B. Loss of Rs 1000
• C. Gain of Rs 1000
• D. Loss of Rs 2000

Answer 1

The correct option is B Loss of Rs 1000

Given the refrigerator and a camera were sold for Rs 12,000 each The refrigerator was 89 sold at a loss of 20 % and the camera was sold at a gain of 20 %

Then purchased cost of refrigerator=$\frac{12000\times 1000}{80}=15000$ Rs

and purchased cost of camera=$\frac{12000\times 1000}{120}=10000$ Rs

Then purchased cost of refrigerator and camera=15000+10000=25000 Rs

And selling cost of refrigerator and camera=12000+12000=24000 Rs

Then loss=25000-24000=1000 Rs

So loss is Rs 1000