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?

Q: 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?

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

Loss of ₹ 140
Gain of ₹ 60
Loss of ₹ 60
Neither gain nor 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

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