136.
Last year Mr. A bought two paintings. This year he sold them for Rs. 20,000 each. On one, he made a 25% profit and on the other hand he had a 25% loss. Then his net profit or loss is
-
He lost more than Rs. 2000
-
He lost less than Rs. 2000
-
He earned more than Rs. 2000
-
He earned more than Rs. 2000
A.
He lost more than Rs. 2000
C.P. of first painting
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Given:
The CP of an article = Rs. 500
First Profit on selling the article = 5%
Second Profit on selling the article = 10%
Formula Used:
When two successive profits of a% and b% are received on selling an article, the overall profit percentage = [a + b + (ab/100)]
Selling Price = [(100 + Profit%)/100] × Cost Price
Calculation:
Two successive profits of 5% and 10% are given, the overall profit in the transaction = [5 + 10 + {(5 × 10)/100}]
⇒ 15.5%
Hence the final Selling Price = [(100 + 15.5)/100] × 500
⇒ Rs. 577.5
∴ The resultant selling price of the article is Rs. 577.5
Let's discuss the concepts related to Profit and Loss and Successive Selling. Explore more from Quantitative Aptitude here. Learn now!
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