Punkaj purchased an item for ₹ 7500 and sold it at the gain of 24%. Find the amount he purchased another item and sold it at the loss of 20%. What is his over all gain/ loss?
Correct Answer: Loss of ₹ 60
Explanation:
CP1 =₹ 7500
∴ SP1 = (7500 x 124)/100 = ₹ 9300 = CP2
SP2 = (9300 x 80)/100= ₹ 7440
⇒ CP1 > SP1
Hence, loss is incurred in this transaction
∴ Require loss = (CP1 - SP2)
= 7500 - 7440
= ₹ 60
