A shopkeeper sells two shirts at Rs. 500 each. On one, he gains 25%, and on the other, he loses 25%. What is his net gain or loss?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. Rs. 66.67 loss.
CP of 1st shirt = 500/1.25 = 400
CP of 2nd shirt = 500/0.75 = 666.67
Total CP = 400 + 666.67 = 1066.67
Total SP = 500 + 500 = 1000
Loss = 1066.67 - 1000 = 66.67