Question : A person sold two cars for INR 60,000 each. On one, he gained 20% while on the other he lost 20%. Find the percentage of his gain or loss.
Option 1: Gain 4%
Option 2: Loss 4%
Option 3: Loss 2%
Option 4: No profit and no loss
Correct Answer: Loss 4%
Solution :
The profit on the first car = 20%
The cost price of the first car = $60000 \times \frac{100}{{100 + 20}}$ = INR 50000
The loss on the second car = 20%
The cost price of the second car = $60000 \times \frac{100}{{100 - 20}}$ = INR 75000
Total cost price of both the cars = 50000 + 75000 = INR 125000
Total selling price of both the cars = 2 × 60000 = INR 120000
Loss = 125000 – 120000 = 5000
$\therefore$ Loss percentage $=\frac{5000}{125000} × 100 = 4\%$
Hence, the correct answer is a loss of 4%.
Related Questions
Know More about
Staff Selection Commission Sub Inspector ...
Result | Eligibility | Application | Selection Process | Cutoff | Admit Card | Preparation Tips
Get Updates Brochure
Your Staff Selection Commission Sub Inspector Exam brochure has been successfully mailed to your registered email id “”.
