Mr. Kapur purchased two toy cycles for Rs 750 each. He sold these cycles, gaining 6% on one and losing 4% on the other. The gain or loss percent in the whole transaction is:
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. 1% Gain
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Understanding |
Application |
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Mr. Kapur purchased two toy cycles for Rs. 750 each. |
First cycle: 6% gain Selling price = 750 × 1.06 = Rs. 795 And Second cycle: 4% loss Selling price = 750 × 0.96 = Rs. 720 |
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So, Total cost price = 750 × 2 = Rs. 1500 Total selling price = 795 + 720 = Rs. 1515 |
Hence, Gain percentage = [(1515 – 1500)/1500] × 100 = 1% |