Question : A television and a refrigerator were sold for Rs. 12,000 each. If the television was sold at a loss of 20% of the cost and the refrigerator at a gain of 20% of the cost, the entire transaction resulted in:
Option 1: no loss or gain
Option 2: loss of Rs. 1000
Option 3: gain of Rs. 1,000
Option 4: loss of Rs. 2,000
Correct Answer: loss of Rs. 1000
Solution :
Let the cost price of the television be
Given that the television was sold at a loss of 20% of the cost.
Given that the refrigerator was sold at a gain of 20% of the cost.
The total cost price = Rs. 15,000 + Rs. 10,000 = Rs. 25,000
The total selling price = Rs. 12,000 + Rs. 12,000 = Rs. 24,000
The entire transaction resulted in a loss = Rs. 25,000 – Rs. 24,000 = Rs. 1,000
Hence, the correct answer is ' loss of Rs. 1,000'.
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