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
Latest: SSC CGL preparation tips to crack the exam
Don't Miss: SSC CGL complete guide
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'.
Related Questions
Know More about
Staff Selection Commission Combined Grad ...
Answer Key | Eligibility | Application | Selection Process | Preparation Tips | Result | Admit Card
Get Updates Brochure
Your Staff Selection Commission Combined Graduate Level Exam brochure has been successfully mailed to your registered email id “”.
