A man sells two goods for ₹3600 each. He gained 17% on the first but lost 20% on the second. What will be his total percentage loss (in %)?

Question

Question

This question was previously asked in

Punjab Police Constable Official Paper-I & II (Held On: 08 Aug, 2024 Shift 1)

Answer 1

Given:

Selling price (SP) of both goods = ₹3600 each

Gain on the first good = 17%

Loss on the second good = 20%

Formula used:

Cost Price (CP) = SP / (1 + Gain%) for profit or SP / (1 - Loss%) for loss

Calculations:

For the first good:

CP1 = 3600 / (1 + 17/100) = 3600 / (1 + 0.17) = 3600 / 1.17

CP1 = ₹3077 (approx.)

For the second good:

CP2 = 3600 / (1 - 20/100) = 3600 / (1 - 0.20) = 3600 / 0.80

CP2 = ₹4500

Total Cost Price (Total CP) = CP1 + CP2 = ₹3077 + ₹4500 = ₹7577

Total Selling Price (Total SP) = ₹3600 + ₹3600 = ₹7200

Now, to calculate the total loss:

Loss = Total CP - Total SP = ₹7577 - ₹7200 = ₹377

Percentage loss = (Loss / Total CP) × 100

Percentage loss = (377 / 7577) × 100 ≈ 4.96%

Therefore, the total percentage loss is approximately 5%.