Question : Shivam purchased two watches, the first for Rs. 12000 and the second for Rs. 10000. He sold both watches, the first one at a profit of 10 percent and the second at a loss of 10 percent. What is the overall profit or loss?
Option 1: 2.25% profit
Option 2: 2.25% loss
Option 3: 0.909% profit
Option 4: 0.909% loss
Correct Answer: 0.909% profit
Solution :
The cost price of 1st watch = Rs. 12000
Profit = 10% of 12000 = Rs. 1200
The cost price of 2st watch = Rs. 10000
Loss = 10% of 10000 = Rs. 1000
The total cost price = 12000 + 10000 = 22000
Total profit = 1200 – 1000 = Rs. 200
$\therefore$ Profit percentage = $\frac{\text{Profit}}{\text{Cost price}}\times 100=\frac{200}{22000}\times 100= 0.909\%$
Hence, the correct answer is 0.909% profit.
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