A man sold two clocks for rs 240 each, gaining 20% on one and losing 20% on the other find his gain or loss percent?plz reply soon
cost of first = 240/1.2 = 200
cost of 2nd = 240/.8 = 300
percentage change = (200+300)/480 = 1.04166..
he made a profit of appr 4.17%
cost of first = 240/1.2 = 200
cost of 2nd = 240/.8 = 300
actual c.p= (200+300)/2
= 500/2 = rs 250
s.p < c.p therefor loss
loss = 250 - 240 = 10
loss% = (10/250)* 100 = 4%
To find the gain or loss percentage, we need to assess the profit or loss made on each clock and then calculate the overall gain or loss percentage.
Let's break down the problem step by step:
1. Let's assume the cost price of the first clock is C1. Since the man gained 20% on the first clock, the selling price of the first clock would be C1 + (20% of C1) = C1 + 0.2C1 = C1(1 + 0.2) = C1(1.2).
2. The selling price of the first clock is given as Rs 240. So, we have C1(1.2) = 240.
3. To find the value of C1, we divide both sides of the equation by 1.2: C1 = 240 / 1.2 = 200.
So, the cost price of the first clock (C1) is Rs 200.
4. Similarly, let's assume the cost price of the second clock is C2. Since the man lost 20% on the second clock, the selling price of the second clock would be C2 - (20% of C2) = C2 - 0.2C2 = C2(1 - 0.2) = C2(0.8).
5. The selling price of the second clock is given as Rs 240. So, we have C2(0.8) = 240.
6. To find the value of C2, we divide both sides of the equation by 0.8: C2 = 240 / 0.8 = 300.
So, the cost price of the second clock (C2) is Rs 300.
7. Now, to calculate the overall gain or loss percentage, we compare the total selling price with the total cost price.
The total selling price is Rs 240 (for the first clock) + Rs 240 (for the second clock) = Rs 480.
The total cost price is Rs 200 (for the first clock) + Rs 300 (for the second clock) = Rs 500.
8. The overall gain or loss can be found using the formula: Gain or Loss Percentage = [(Total Selling Price - Total Cost Price) / Total Cost Price] * 100.
Substituting in the values, we get:
Gain or Loss Percentage = [(480 - 500) / 500] * 100 = (-20 / 500) * 100 = -4%
Therefore, the man has incurred a loss of 4% in this transaction.