A man sold two chairs for Rs.500 each. On one he gains 20% and on the other he loses 12%. His net gain or loss per cent is

Question

Philoid · Accepted Answer

SP of first chair = Rs.500

CP of first chair

= Rs.416.66

SP of second chair = Rs.500

SP of second chair

= Rs.568.18

CP of both chairs = 500 + 500

= Rs.1000

SP of both chairs = 568.18 + 416.66

= Rs.984.84

It is a case of Loss because CP is more than SP.

Loss = CP – SP

=1000 – 984.84

= Rs15.16

= 1.51%