Subject: General Aptitude · Chapter: Profit and Loss · Exam: 2006 · Marks: · Difficulty:
A man sold two steel chairs for ₹ 500 each. On one, he gains 20\% and on the other, he loses 12\%. How much does he gain or lose in the whole transaction?
(a)1.5\% gain
(b)1.5\% loss
(c)2\% gain
(d)2\% loss
Answer
Answer (as printed): A
Explanation
Total S.P. $=₹(2 \times 500)=₹ 1000$. $$\text { C.P. of first chair }=₹\left(\frac{100}{120} \times 500\right)=₹ \frac{1250}{3} \text {. }$$ C.P. of second chair $=₹\left(\frac{100}{88} \times 500\right)=₹ \frac{6250}{11}$. Total C.P. $=₹\left(\frac{1250}{3}+\frac{6250}{11}\right)=₹\left(\frac{32500}{33}\right)$. $$\text { Gain }=₹\left(1000-\frac{32500}{33}\right)=₹\left(\frac{500}{33}\right) . \text { ∴ Gain } \%=\left(\frac{500}{33} \times \frac{33}{32500} \times 100\right) \%=1.54 \% \approx 1.5 \% \text {. }$$
Explanation as extracted from the printed page; notation may be imperfect.