A man sold two steel chairs for Rs. 900 each. On one, he gains 20% and on…
2023
A man sold two steel chairs for Rs. 900 each. On one, he gains 20% and on other, he loses 25%. How much does he gain or lose in the whole transaction ?
- A.
6 % loss
- B.
6.5 % loss
- C.
5 % loss
- D.
7.7 % loss
Attempted by 17 students.
Show answer & explanation
Correct answer: D
Answer: 7.7 % loss
Find the cost price of the chair sold at 20% gain: CP = 900 ÷ 1.20 = 750.
Find the cost price of the chair sold at 25% loss: CP = 900 ÷ 0.75 = 1200.
Total cost price = 750 + 1200 = 1950. Total selling price = 900 + 900 = 1800.
Loss = 1950 − 1800 = 150. Percentage loss = (150 ÷ 1950) × 100 ≈ 7.6923%.
Rounded to one decimal place, the loss is 7.7%.
Final answer: 7.7 % loss