Ravi sold two bikes for ₹ 42,188 each. On one bike he gained 20% while on the other he lost 20%. How much per cent does he gain or lose overall?
Show answer & explanation
Correct answer: C
Explanation
The correct answer isg Option 2 i.e. 4% loss
Given that
Selling price of 1st bikes = selling price of 2nd bikes = Rs. 4218
Now he get 1st bike he gain 20% profit
Than cost price = selling price/1 - (gain%/100)
= 42188/1 + (20/100)
= 42188 × 100/120
= 35156.67
Cost price of 1st bike = 35156.67
Again on 2nd bikes he loss 20% loss
Than the cost price = selling price /1 - (loss%/100)
= 42188/1-(20/100)
= 42188×100/80
= 52735
Cost price of 2nd bikes = 52735
Total cost price = 35156.67 + 52735 = 87891.67
Total selling price = 42188 + 42188 = 84376
Loss = cost price - selling price
= 87891 - 84376 = 3515
Loss % = loss × 100/cost price
= 3515 × 100/87891 = 4%
Than loss % is 4%