9 Views

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


Team Careers360 14th Jan, 2024
Answer (1)
Team Careers360 22nd Jan, 2024

Correct Answer: loss of Rs. 1000


Solution : Let the cost price of the television be $x$ and the cost price of the refrigerator be $y$.
Given that the television was sold at a loss of 20% of the cost.
$⇒12000 = x - 0.20x = 0.80x$
$⇒x = \frac{12000}{0.80} = 15,000$
Given that the refrigerator was sold at a gain of 20% of the cost.
$⇒12000 = y + 0.20y= 1.20y$
$⇒y = \frac{12000}{1.20} = 10,000$
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'.

SSC CGL Complete Guide

Candidates can download this ebook to know all about SSC CGL.

Download EBook

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