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A bought an article for Rs. 7200 and sold it at a loss of 20%. With this amount, he bought another article and sold it at a gain of 50%. What was his overall percentage gain or percentage loss?
1. 20% gain
2. 15% loss
3. 22% gain
4. 25% loss

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Correct Answer - Option 1 : 20% gain

Given:

CP of an article = Rs. 7200

Loss% = 20%

Gain% = 50%

Concept used:

Gain% = (SP – CP)/CP × 100%

Loss% = (CP – SP)/CP × 100%

Calculation:

CP of an article = Rs. 7200

Loss% = 20%

SP of article = Rs. (80 × 7200/100) = Rs. 5760

Now, CP of the other article = Rs. 5760

Gain% = 50%

SP of the other article = Rs. (150 × 5760/100) = Rs. 8640

Overall gain = Rs. (8640 – 7200) = Rs. 1440

Overall gain% = 1440 × 100/7200 = 20%

Overall gain is 20%

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