Question
Download Solution PDFA man buys each of two items Rs. Sells for 3600. He gains 19% on the first but loses 18% on the second. What will be his total loss percentage (in %)?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Selling Price of each item = ₹ 3600
Gain on the first item = 19%
Loss on the second item = 18%
Formula used:
Cost Price = (Selling Price × 100) / (100 + Profit%)
Cost Price = (Selling Price × 100) / (100 - Loss%)
Total Loss Percentage = (Total Loss / Total Cost Price) × 100
Calculations:
Cost Price of the first item = (3600 × 100) / (100 + 19)
⇒ (3600 × 100) / 119
⇒ 360000 / 119 = 3025.21
Cost Price of the second item = (3600 × 100) / (100 - 18)
⇒ (3600 × 100) / 82
⇒ 360000 / 82 = 4390.24
Total Cost Price = 3025.21 + 4390.24 = 7415.45
Total Selling Price = 3600 + 3600 = 7200
Total Loss = 7415.45 - 7200 = 215.45
Total Loss Percentage = (215.45) / (7415.45) × 100
⇒ 2.90 %
∴ The correct answer is Option (1).
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