A man sold two cycles for Rs.3000 each gaining 20% on the other.Find his gain or loss percentages on the whole transaction
Plz give rply fast
if you mean that the 2nd was sold for 20% more than the first, then if the first sold for x, we have
x + 1.2x = 3000
If not, then I'm not sure what
each gaining 20% on the other means...
A ma n sold two cycles for rupees 3000/- each,gaining 20% on one and losing 20% on the other.Find his gain or loss on whole transaction
To find the gain or loss percentage on the whole transaction, we need to calculate the cost price and selling price of both cycles separately and then calculate the overall profit or loss.
Let's break down the given information:
1. The man sold two cycles for Rs. 3000 each, implying that the selling price of each cycle is Rs. 3000.
2. The man gained 20% on the other cycle. This means that one of the cycles was sold at a higher price, while the other cycle was sold at a lower price to make up for the gain.
To find the cost price of each cycle, we can use the formula:
Cost Price = Selling Price / (1 + (Profit Percentage / 100))
Let's calculate the cost price of each cycle:
For the first cycle sold at Rs. 3000 with a 20% gain:
Cost Price of the first cycle = 3000 / (1 + 0.2)
Cost Price of the first cycle = 3000 / 1.2
Cost Price of the first cycle = Rs. 2500
Now, since the man gained 20% on the first cycle, he would have sold the second cycle at a lower price to balance the overall gain percentage.
Let's assume the cost price of the second cycle is C.
We can calculate the selling price of the second cycle:
Selling Price of the second cycle = Cost Price + (Cost Price * Gain Percentage)
3000 = C + (C * (20/100))
3000 = C + (C * 0.20)
3000 = C + 0.20C
3000 = 1.20C
Dividing both sides of the equation by 1.20:
2500 = C
Hence, the cost price of the second cycle is Rs. 2500.
Now, we can calculate the overall cost price of both cycles:
Overall Cost Price = Cost Price of the first cycle + Cost Price of the second cycle
Overall Cost Price = 2500 + 2500
Overall Cost Price = Rs. 5000
The overall selling price of both cycles is:
Overall Selling Price = Selling Price of the first cycle + Selling Price of the second cycle
Overall Selling Price = 3000 + 3000
Overall Selling Price = Rs. 6000
To calculate the overall profit or loss percentage, we can use the following formula:
Profit Percentage = ((Selling Price - Cost Price) / Cost Price) * 100
Profit Percentage = ((6000 - 5000) / 5000) * 100
Profit Percentage = (1000 / 5000) * 100
Profit Percentage = 0.2 * 100
Profit Percentage = 20%
Therefore, the man gained 20% on the whole transaction.