New Enroll in our GIC Finance Online Course Here!

    Register

    Question

    A man sells two articles at ₹2,000 each. On one, he

    gains 25%, and on the other, he loses 20%. What is his overall profit or loss percentage?
    A 1.33% loss Correct Answer Incorrect Answer
    B 1.33% profit Correct Answer Incorrect Answer
    C 2.44% loss Correct Answer Incorrect Answer
    D 2.44% profit Correct Answer Incorrect Answer
    E No profit, no loss Correct Answer Incorrect Answer

    Solution

    Let the cost price of the first article be ₹x. Profit of 25% means selling price = x + 25% of x = 1.25x. 1.25x = ₹2,000  x = ₹1,600. Let the cost price of the second article be ₹y. Loss of 20% means selling price = y - 20% of y = 0.8y. 0.8y = ₹2,000  y = ₹2,500. Total cost price = ₹1,600 + ₹2,500 = ₹4,100. Total selling price = ₹2,000 + ₹2,000 = ₹4,000. Loss = ₹4,100 - ₹4,000 = ₹100. Loss percentage = (100/4100) × 100 ≈ 2.44%. Answer: c) 2.44% loss.

    Practice Next