Question : A man bought two flats for INR 60,75,000 each. He sold one flat at a 10% gain and another at a 15% loss. How much percent does he gain or lose on the whole?
Option 1: 5% loss
Option 2: 5% gain
Option 3: 2.5% loss
Option 4: 3% gain
Correct Answer: 2.5% loss
Solution :
Profit = 10% of 60,75,000 = Rs. 607500
Loss = 15% of 60,75,000 = Rs. 911250
Overall loss = 911250 – 607500 = 303750
Loss% = $\frac{\text {Total loss}}{\text{Total cost}}\times 100$
= $\frac{ 303750}{2\times 60,75,000}\times 100 =2.5\% $
Hence, the correct answer is 2.5% loss.
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