Question : Mr. Kapur purchased two toy cycles for Rs. 750 each. He sold these cycles gaining 6% on one and losing 4% on the other. The gain or loss per cent in the whole transaction is:
Option 1: 1% loss
Option 2:
1% gain
Option 3:
1.5% loss
Option 4:
1.5% gain
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Correct Answer:
1% gain
Solution :
If the cost price of two articles is the same then net profit % is the average of all profit %.
So, overall profit % = $\frac{6-4}{2}$% = 1% profit
Hence, the correct answer is '1% gain'.
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