A shopkeeper sold two articles at Rs. 12,000 each. He sold one article at a profit of 20% and the other one at a loss of 20%. What is the net gain or loss to the shop keeper?
A loss of Rs. 1000
To solve the problem, we need to calculate the cost price for both articles and determine if there's a net profit or loss in overall transactions.
Let's denote:
- \(SP_1 = SP_2 = 12,000 \text{ Rs}\) (Selling Price of each article)
- \(CP_1\) : Cost Price of the first article.
- \(CP_2\) : Cost Price of the second article.
Article 1:
The first article is sold at a profit of 20%. Therefore,
\(SP_1 = CP_1 \times \left(1 + \frac{20}{100}\right) = CP_1 \times 1.2\)
Given \(SP_1 = 12,000 \text{ Rs}\), we have:
\(1.2 \times CP_1 = 12,000\)
\(CP_1 = \frac{12,000}{1.2} = 10,000 \text{ Rs}\)
Article 2:
The second article is sold at a loss of 20%. Therefore,
\(SP_2 = CP_2 \times \left(1 - \frac{20}{100}\right) = CP_2 \times 0.8\)
Given \(SP_2 = 12,000 \text{ Rs}\), we have:
\(0.8 \times CP_2 = 12,000\)
\(CP_2 = \frac{12,000}{0.8} = 15,000 \text{ Rs}\)
Calculating Net Gain or Loss:
- Total Cost Price, \(CP = CP_1 + CP_2 = 10,000 + 15,000 = 25,000 \text{ Rs}\)
- Total Selling Price, \(SP = SP_1 + SP_2 = 12,000 + 12,000 = 24,000 \text{ Rs}\)
The net loss is calculated as:
\(\text{Net Loss} = CP - SP = 25,000 - 24,000 = 1,000 \text{ Rs}\)
Thus, the shopkeeper incurs a net loss of Rs. 1,000.
The correct answer is: A loss of Rs. 1000
Similar Questions
70% of the cost price of an article is equal to 50% of its selling price. The percentage of profit or loss on the cost price is
A dealer marks his goods 25% above the cost price and then allows 10% discount on it. What is the cost price of an article on which he gains ₹50 ?
Two old cars are sold for Rs. 48,000 each. One is sold at a profit of 20% and another at a loss of 20%. Find the net profit/loss percentage and the total amount of profit/loss.
A tradesman sold an article at a loss of 20%. If the selling price had been increased by ₹100, there would have been a gain of 5%. What was the cost price of the article (₹)?
A shopkeeper sells a refrigerators for Rs 22,000 and makes a profit of 10%. If he desires to make a profit of 18%, what should be his selling price?
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?
By selling a horse for Rs. 670, a tradesman would lose 5%. At what price must he sell it to gain 5%?
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?
