Question : A person sold two cars for INR 60,000 each. On one, he gained 20% while on the other he lost 20%. Find the percentage of his gain or loss.
Option 1: Gain 4%
Option 2: Loss 4%
Option 3: Loss 2%
Option 4: No profit and no loss
Answer (1)
16th Jan, 2024
Correct Answer: Loss 4%
Solution :
The profit on the first car = 20%
The cost price of the first car =
The loss on the second car = 20%
The cost price of the second car =
Total cost price of both the cars = 50000 + 75000 = INR 125000
Total selling price of both the cars = 2 × 60000 = INR 120000
Loss = 125000 – 120000 = 5000
Hence, the correct answer is a loss of 4%.
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