Calculating Effective Profit/Loss Percentage
Let the cost price (CP) of the first article be CP1 and the selling price (SP) be SP1. Let the cost price of the second article be CP2 and the selling price be SP2.
Step 1: Calculate SP1 and CP2
The first article is sold at a 20% profit. If we assume CP1 = $100 (for simplicity):
SP1 = CP1 * (1 + Profit%)
SP1 = $100 * (1 + \frac{20}{100}) = $100 * 1.20 = $120
We are given that the selling price of the first article equals the cost price of the second article:
SP1 = CP2
Therefore, CP2 = $120.
Step 2: Calculate SP2
The second article is sold at a 20% loss:
SP2 = CP2 * (1 - Loss%)
SP2 = $120 * (1 - \frac{20}{100}) = $120 * 0.80 = $96
Step 3: Calculate Total CP and Total SP
Total Cost Price (Total CP) = CP1 + CP2 = $100 + $120 = $220
Total Selling Price (Total SP) = SP1 + SP2 = $120 + $96 = $216
Step 4: Determine Effective Profit/Loss Percentage
Since Total SP ($216) is less than Total CP ($220), there is an overall loss.
Loss = Total CP - Total SP = $220 - $216 = $4
Effective Loss Percentage = (Loss / Total CP) * 100
Effective Loss Percentage = \(\frac{4}{220} \times 100\)
Effective Loss Percentage = \(\frac{400}{220}\) = \(\frac{20}{11}\) %
Effective Loss Percentage ≈ 1.818...%
Approximately, the effective loss is 1.8%.
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Important Questions from Profit and Loss
By selling an article for Rs. 2,200, a profit of 10% is earned. If the same article is sold for Rs. 2,600, then what will be the gain percentage?
By selling an article for Rs. 640, a person loses 15% of its selling price. At what price (in Rs.) should he sell it to gain 15% on its cost price?
The selling prices of articles A and B are the same. A is sold at a profit of 28 percent and B is sold at a loss of 24 percent. If the total selling price of the both articles is Rs. 48640, then what is the cost price of A and B, respectively ?
The cost price of an article is Rs. 2800. Profit as a percentage of selling price is 20 percent. What is the actual profit (in Rs.) ?
A trader bought 640 kg of rice. He sold a part of rice at 20% profit and the rest at 5% loss. He earned a profit of 15% in the entire transaction. What is the quantity (in kg) of rice that he sold at 5% loss?
