A shopkeeper sells a fan for ₹ 912 at a gain of 14% and another fan for ₹ 1,012 at a loss of 8%. What is his overall gain or loss percentage?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 1(5/19)% gain.
Given:
A shopkeeper sells a fan for ₹ 912 at a gain of 14% and another fan for ₹ 1,012 at a loss of 8%
Formula used:
Selling price = Cost price ± profit/loss
Calculations:
Cost price of first fan = 912/114 × 100 = 800
Cost price of second fan = 1012/92 × 100 = 1100
Total cost price = 1100 + 800 = 1900
Total selling price = 912 + 1012 = 1924
Gain% = (1924 - 1900)/1900 × 100 = 24/19% or 1(5/19)%