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%.
Similar Questions
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Important Questions from Profit and Loss
Rohit buys 8 pens and 4 pencils for Rs. 2400. He sells pencils at a profit of 20 percent and pens at the loss of 10 percent. If his overall profit is Rs. 240, then what is the sum of the cost price of one pen and one pencil?
A man sells a car to his friend at the loss of 10 %; who in return sells it for Rs. 54000 making a profit of 20 %. What was the initial value of the car?
An article was sold at a loss of 24%. If it were sold for Rs. 1,596 more, then there would have been a gain of 18%, The cost price of the article is:
The cost price of an article is Rs.6,450. If it sold at a profit 16%, how much would be its selling price?
If the selling price of 7 articles is equal to the cost price of 6 articles, then what is the percentage loss?
