Question
Download Solution PDFMona purchased two handbags for Rs. 1,500 each. She sold these bags, gaining 8% on one bag and loss 4% on the other. Find her gain or loss percent in the whole transaction.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFMona purchased two handbags for Rs. 1,500 each.
Given data:
Cost price (C.P.) of each bag = Rs. 1,500
Gain% on one bag = 8%
Loss% on another bag = 4%
Concept: Gain or loss percent in the whole transaction is calculated by summing up total gain/loss and then finding the percent.
Step-by-step solution:
Gain on first bag = 8% of 1500 = Rs. 120
Loss on second bag = 4% of 1500 = Rs. 60
So, Net gain = Rs. 120 - Rs. 60 = Rs. 60
Now, Gain% = (Gain/Total Cost Price) × 100
⇒ Gain% = (60/(1500 × 2)) × 100
Hence, the overall gain percent in the whole transaction is 2%.
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