Question

A person purchased an item of Rs. 7000 and sold it at the loss of 12%. From that amount he purchased another item and sold it at the profit of 20%. What is his overall gain or loss?

• A. Rs. 462 gain
• B. Rs. 392 gain
• C. Rs. 462 loss
• D. Rs. 392 loss

Answer 1

Answer:

B. Rs. 392 gain

Net effect = [x - y - (xy/100)]% = [20 - 12 - {(12 × 20)/100}]% = (8 - 2.4)% = 5.6% Profit % = 5.6% 100% = Rs. 7000 1% = Rs. 70 5.6% = Rs. 70 × 5.6 = Rs. 392