65 Views

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


Team Careers360 1st Jan, 2024
Answer (1)
Team Careers360 16th Jan, 2024

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%.

Know More About

Related Questions

TOEFL ® Registrations 2024
Apply
Accepted by more than 11,000 universities in over 150 countries worldwide
Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books