Question

Mr. Ambani purchased a car of $3,00,000$ and a bike for his son for $1,00,000$. He sold the car at a profit of $10$% and bike at a loss of $20$%. What is the net gain or loss?

• A. $2$% gain
• B. $1.5$% gain
• C. $2.5$% loss
• D. $2.5$% gain

Answer 1

The correct option is D $2.5$% gain

CP of a car = 3,00,000 Rs

Profit on car = 10%

$\therefore SPofcar=CP+CP\times \frac{ProfitPercentage}{100}=300000+300000\times \frac{10}{100}=3,30,000Rs$

CP of a bike = 1,00,000 Rs.

Loss on bike = 20%

$\therefore SPofbike=CP-CP\times \frac{LossPercentage}{100}=100000-100000\times \frac{20}{100}=80,000Rs$

So, $TotalCP=3,00,000+1,00,000=4,00,000$ Rs

And $TotalSP=3,30,000+80,000=4,10,000$ Rs

Here SP > CP.

$\therefore Gain=SP-CP=4,10,000-4,00,000=10,000Rs$

$\Rightarrow Gainpercentage=\frac{gain\times 100}{CP}=\frac{10,000\times 100}{4,00,000}=2.5\%$