A man cheats 5% on the both side when buying and selling a products. find what will be the gain percent of the man?
To find the man's overall gain percentage, you need to consider both the buying and selling sides of the transaction. Let's break down the process step by step:
1. Start with the selling price of the product:
- Let's assume the selling price is $100.
2. Calculate the selling price after the man cheats by 5%:
- Since the man cheats 5% on the selling side, he sells the product for 95% of the original selling price.
- In this case, selling price after cheating would be: $100 * 0.95 = $95.
3. Calculate the buying price of the product:
- The man cheats by 5% on the buying side as well, which means he buys the product for 95% of the original price.
- Considering the selling price after cheating is $95, calculate the buying price: $95 / 0.95 = $100.
4. Calculate the overall gain:
- The gain is the difference between the selling price after cheating and the buying price: $95 - $100 = -$5 (negative value indicates a loss).
5. Calculate the gain percentage:
- To determine the gain percentage, divide the gain by the buying price and multiply by 100:
Gain percentage = ($5 / $100) * 100 = -5%.
Therefore, the man incurs a loss of 5% in this transaction.