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Question

Two bicycles were sold for Rs. 1000 each, gaining 10% on one and losing 10% on the other.

The gain or loss % on the whole transaction is.

A
6% Loss
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B
8% Loss
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C
1% Loss
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D
2% Loss
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Solution

The correct option is C 1% Loss
Selling price of two bicycles =1000 Rs. each

Let cost price of a bicycle on which gain is 10% be X Rs
and another bicycle on which lost is 20% be Y Rs.

Solving for bicycle on which gain is 10%,
We know that, Selling price=Cost price+profit

1000=X+10% of X

1000=X+0.1X

1000=1.1X

X=10001.1=1000011

Now, Solving for bicycle on which loss is 10%,
We know that, Selling price=Cost priceloss

1000=Y10% of Y

1000=Y0.1Y

1000=0.9Y

Y=10000.9

Y=100009

Now, Total Cost price=X+Y=1000011+100009=20000099 =2020.20Rs

and Total Selling price=2×1000=2000 Rs

Since Selling price<CostPrice

So, In whole transaction, there is a Loss of 2020.202000=20.20 Rs

Loss Percentage=loss×100Cost Price=20.20×1002000=1.01%=1%(Approx)

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