A bought an article for Rs. 5,400 and sold it at a loss of 30%. With this amount, he bought another article and sold it at a gain of 60%. What was his overall percentage gain or percentage loss?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. “Gain, 12%”
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Concept |
Understanding |
Application |
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Here, the percentage profit/loss will not depend upon the Cost price. So, we can take value for CP and to avoid calculation, we will take CP = 100 |
Suppose CP = 100 Loss = 30% |
SP after 30% loss = 100 × 0.7 = 70 With this Rs. 70, he brought another article which he sold at 60% profit: SP for another article = 70 × 1.6 = 112 Hence, Overall gain = [(112 – 100)/100] × 100 = 1200/100 = 12% |