Question : A refrigerator and a washing machine were sold for Rs. 24000 each. If the refrigerator was sold at a gain of 20% and the washing machine at a loss of 20%. What is the overall profit or loss percent in the whole transaction?
Option 1: 4% profit
Option 2: 5% profit
Option 3: 4% loss
Option 4: 5% loss
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Correct Answer: 4% loss
Solution : Let the cost price of the refrigerator as R and the washing machine as W. Given that the refrigerator was sold at a gain of 20%. ⇒ R = $\frac{24000}{1.2}$ = 20000 And given that the washing machine was sold at a loss of 20%. ⇒ W = $\frac{24000}{0.8}$ = 30000 The total cost price = R + W = 20000 + 30000 = 50000 The total selling price = 2 × 24000 = 48000 The loss = 50000 – 48000 = 2000 Percentage change = $\frac{\text{Loss}}{\text{Total cost price}}$ × 100 The loss percentage = $\frac{2000}{50000}$ × 100 = 4% Hence, the correct answer is 4% loss.
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