Question

A bought an article for Rs. 6200 and sold it at a loss of 20%. With this amount another article is bought and sold it at a gain of 30%. What was his overall gain or loss percentage?
1. 8%
2. 4%
3. 6%
4. 5%

Answer 1

Correct Answer - Option 2 : 4%

Given:

A bought an article for Rs.6200 and sold it at a loss of 20%. With this amount another article is bought and sold it at a gain of 30%

Formula used:

Profit = (SP - CP)

Profit % = (Profit/CP) × 100

Loss = (CP - SP)

Loss % = (Loss/CP) × 100

Calculation:

CP of the article = Rs.6200

Loss = 20%

SP of the article = 80 × 6200/100

⇒ Rs. 4960

CP of second article = Rs. 4960

Gain % = 30%

SP of second article = Rs. 130 × 4960/100

⇒ 6448

Gain % = (6448 - 6200) × 100/6200

⇒ 4

∴ the correct answer is 4%