Question : A trader buys two articles for Rs. 4000 each article. If he earns a profit of 10 percent on one and loses 30 percent on the other, then what will be his overall loss percentage?
Option 1: 5%
Option 2: 10%
Option 3: 20%
Option 4: 15%
Correct Answer: 10%
Solution :
Given: A trader buys two articles for Rs. 4000 each article.
The total cost price(CP) = 4000 + 4000 = Rs. 8000
The total selling price(SP)
= $(4000 +0.10\times 4000)+(4000-0.30\times 4000)$
= $4000 + 400+4000-1200$
= Rs. $7200$
Loss percentage = $\frac{\text{Cost price – Selling price}}{\text{Cost price}}×100=\frac{8000–7200}{8000}\times 100=\frac{800}{8000}\times 100=10$%
Hence, the correct answer is 10%.
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