Profit and Loss Practice Test 4

Question : 23 of 40

Marks: +1, -0

A man sells two chairs at Rs 120 each and by doing so, gains 25% on one chair and loses 25% on the other. His loss on the whole in Rs is:

Solution:

\table SP, % ,CP;120 ,Gain 25%, x;120, Loss 25% ,x

SP = CP + 25% of CP (gain)

120=x+25/100×x=5/4x

x=120×4/5=96

SP = CP - 25% of CP (loss)

120=x-25/100×x=3/4x

x={120×4}/3=160

Total cost price = 160 + 96 = Rs 256
Total sale price = 120 + 120 = Rs 240
Loss on whole = 256 - 240 = Rs 16

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