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A man bought an article for ₹800. He sold it at a profit of 15%. With that money, he bought another article and sold it at a loss of 10%. Find his overall gain/loss %.
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Step-by-step solution
4 stepsHere's how to solve the problem:
Calculate the selling price of the first article.
The man bought the first article for ₹800 and sold it at a profit of 15%.
Calculate the selling price of the second article.
With the money from the first sale (₹920), he bought another article. So, the cost price of the second article (CP2) is ₹920. He sold it at a loss of 10%.
Calculate the overall gain or loss.
The initial cost price was ₹800, and the final selling price was ₹828.
Since the result is positive, it's an overall gain.
Calculate the overall gain percentage.
The calculated overall gain is 3.5%. Comparing this to the given options:
(A) 2% gain
(B) 2% loss
(C) 3% gain
(D) 3% lossSince 3.5% gain is not an exact option, we choose the closest one. 3.5% gain is closer to 3% gain than to 2% gain.
The final answer is
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