Question
Download Solution PDFGill sold two dogs at the same price. In one, he gets a profit of 22% and in the other, he gets a loss of 22%. What is Gill's profit or loss percentage?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Profit on one dog = 22%
Loss on the other dog = 22%
Formula Used:
Overall loss percent = (Profit% × Loss%) / 100
Solution:
Let the selling price (SP) of each dog be ₹100.
For the first dog (22% profit):
Cost Price (CP) = (100 × 100) / 122 = 10000 / 122
For the second dog (22% loss):
Cost Price (CP) = (100 × 100) / 78 = 10000 / 78
Total Selling Price = 100 + 100 = ₹200
Total Cost Price = 10000/122 + 10000/78
= (780000 + 1220000) / 9516
= 2000000 / 9516 ≈ 210.2
Loss = 210.2 - 200 = 10.2
Loss Percentage = (10.2 / 210.2) × 100 ≈ 4.84%
Loss = 4.84%
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