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A man sold two cycles for Rs 3000 each, gaining 20% on the and losing 20% on the other. Find his gain or loss percentage on the whole transaction?

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answer is A.

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Detailed Solution

Concept: We use the formula,

SP = CP [1 + \frac{profit percentage}{100}]

SP = CP [1 - (\frac{percent}{100})

Given: two cycle's price = 3000,
SP of first cycle= CP of first cycle

3000 = x [1 + \frac{20}{100}]

3000 = x [\frac{100 + 20}{100}]

3000 = x [\frac{120}{100}]

x = 3000 [\frac{100}{200}] = 2500

A loss of 20%,

SP = CP [1 - loss \frac{percent}{100}]

3000 = y [1 - \frac{20}{100}]

3000 = y [\frac{100 - 20}{100}]

3000 = y [\frac{80}{100}]

y = 3000 [\frac{100}{80}]

= 3750

Total CP of both the cycles = CP of first cycle + CP of second cycle

= 2500 + 3750 = Rs 6250

Loss percent,

[\frac{CP - SP}{CP} \times 100]

= [\frac{6250 - 6000}{6250} \times 10]

= [\frac{650}{6250}] \times 100

= 4 %

Hence, the correct option is (1).

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