Question : A trader buys two articles for Rs. 3000 each article. While selling, he earns a profit of 10% on one and loses 20% on the other. What will be his overall loss percentage?
Option 1: 10%
Option 2: 20%
Option 3: 15%
Option 4: 5%
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Correct Answer: 5%
Solution :
The trader buys two articles for Rs. 3000 each.
The total cost is Rs. 6000.
On selling the first article, he earns a profit of 10%.
The selling price of the first article = Rs. 3000 + 10% of Rs. 3000 = Rs. 3300
On selling the second article, he incurs a loss of 20%.
The selling price of the second article = Rs. 3000 – 20% of Rs. 3000 = Rs. 2400
The total selling price of the two articles = Rs. 3300 + Rs. 2400 = Rs. 5700
The overall loss = Rs. 6000 – Rs. 5700 = Rs. 300
$\therefore$ The overall loss percentage = $\frac{300}{ 6000} × 100 = 5\%$
Hence, the correct answer is 5%.
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