Subject: General Aptitude · Chapter: Profit and Loss · Exam: · Marks: · Difficulty:
A house and a shop were sold for ₹ 1 lakh each. In this transaction, the house sale resulted into 20\% loss whereas the shop sale resulted into 20\% profit. The entire transaction resulted in
(a)no loss, no gain
(b)loss of ₹ $\frac{1}{12}$ lakh
(c)loss of ₹ $\frac{1}{18}$ lakh
(d)gain of ₹ $\frac{1}{24}$ lakh
Answer
Answer (as printed): B
Explanation
Total S.P. = ₹ 2 lakh. $$\text { C.P. of house }=₹\left(\frac{100}{80} \times 1\right) \text { lakh }=₹ \frac{5}{4} \text { lakh. }$$ C.P. of shop $=₹\left(\frac{100}{120} \times 1\right)$ lakh $=₹ \frac{5}{6}$ lakh. Total C.P. $=₹\left(\frac{5}{4}+\frac{5}{6}\right)$ lakh $=₹ \frac{25}{12}$ lakh. $$\text { ∴ } \text { Loss }=₹\left(\frac{25}{12}-2\right) \text { lakh }=₹ \frac{1}{12} \text { lakh. }$$
Explanation as extracted from the printed page; notation may be imperfect.