Question

Chintu sells two articles for Rs. 6000 each with no loss and no gain in the transaction. If one was sold at a gain of 25%, the other is sold at a loss of 
1. 25%
2. (50/3)%
3. (25/3)%
4. (75/3)%

Answer 1

Correct Answer - Option 2 : (50/3)%

Given:

Selling Price of each article = Rs. 6000

Gain on first article = 25%

Formula Used:

Profit % = ((SP - CP)/CP) × 100%

Loss % = ((CP - SP)/CP) × 100%

Calculation:

Let the cost price of first article = Rs. x

and the cost price of second article = Rs. y

Gain on first article = 25%

Profit % = ((SP - CP)/CP) × 100%

⇒ 25 = ((6000 - x)/x) × 100

⇒ 1/4 = (6000 - x)/x

⇒ x = 4(6000 - x)

⇒ x = 24000 - 4x

⇒ 5x = 24000

⇒ x = 4800

Cost price of first article = Rs. 4800

∵ There is no gain no loss

Total cost price of articles = Total selling price of articles

⇒ x + y = Rs. 6000 + Rs. 6000

⇒ 4800 + y = 12000

⇒ y = 7200

Cost price of second article = Rs. 7200

Loss % = ((CP - SP)/CP) × 100%

⇒ Loss % = ((7200 - 6000)/7200) × 100%

⇒ Loss % = (1200/7200) × 100%

⇒ Loss % = (50/3)%

∴ The other article is sold at a loss of (50/3)%.