A shopkeeper sold two articles for Rs 9,879 each. On one, he gained 11% and on the other. he lost 11%.What is the overall percentage
gain or loss?
This questions was previously asked in
SSC CPO 13th-March-2019-Shift-2
1.21% gain
Incorrect Answer1.25% gain
Incorrect Answer1.21% loss
Correct Answer1.25% loss
Incorrect AnswerExplanation:
- When a shopkeeper sells two articles at the same selling price, one with a gain and the other with a loss of the same percentage, there is an overall loss.
- Let's first calculate the cost price for each.
- Gain scenario: Selling Price (SP) = Rs 9,879 = Cost Price (CP) * (1 + 11/100)
- Loss scenario: Selling Price (SP) = Rs 9,879 = Cost Price (CP) * (1 - 11/100)
- Solving gives:
- CP of first article = Rs 8,900
- CP of second article = Rs 11,100
- Total SP = 9,879 + 9,879 = Rs 19,758
- Total CP = 8,900 + 11,100 = Rs 20,000
- Overall loss = Total SP - Total CP = -Rs 242
- Overall percentage loss = (242/20,000) * 100 = 1.21%
Correct Answer: Option 3: 1.21% loss
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By: santosh