A shopkeeper sold two articles for Rs. 9831 each. On one, he gained 13% and on the other, he lost 13%. What is the overall percentage gain or loss?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is Option 3 i.e. 1.69% loss.
Cost Price = Selling Price × 100/(100 + profit %)
Cost Price = Selling Price × 100/(100 - loss %)
The cost price of the first article(gain is 13%) = (100 × 9831)/113 = 8700
The cost price of the second article(loss is 13%) = (100 × 9831)/87 = 11300
So,
Total cost price of both the articles = 8700 + 11300 = 20000
Total selling price = 9831 × 2 = 19662
⇒ Loss = 20000 - 19662 = 338
Loss% = (Loss)/Cost price × 100
⇒ % loss = (338/20000) × 100 = 1.69