Sumit purchased an item for ₹ 4000 and sold it at the gain% of 35%. From that amount, he purchased another item and sold it at the loss of 20%. What is his over all gain/loss?

Q: Sumit purchased an item for ₹ 4000 and sold it at the gain% of 35%. From that amount, he purchased another item and sold it at the loss of 20%. What is his over all gain/loss?

CP1 = ₹ 4000 SP1 = 4000 x 135/100 = ₹ 5400 CP2 SP2 = 5400 x 80/100 = ₹ 4320 CP1 < SP2 Hence, profit earned here. ∴ Required gain = ( SP2 - CP1) = 4320 - 4000 = ₹ 320

loss of ₹ 340
Gain of ₹ 320
Loss of ₹ 360
Neither gain nor loss

Correct Answer: Gain of ₹ 320

Explanation:

CP₁ = ₹ 4000
SP₁ = 4000 x 135/100 = ₹ 5400 CP₂
SP₂ = 5400 x 80/100 = ₹ 4320
CP₁ < SP₂
Hence, profit earned here.
∴ Required gain = ( SP₂ - CP₁)
= 4320 - 4000 = ₹ 320

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