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Q.

A motorcycle and a scooter were sold for Rs. 12000 each. The motorcycle was sold at a loss of 20% of the cost and the scooter at a gain of 20% of the cost. The entire transaction resulted in:


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a

No loss or gain 

b

Loss of Rs. 1000 

c

Gain of Rs. 1000 

d

Gain of Rs. 2000  

answer is B.

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Detailed Solution

 Concept- We'll determine the cost of the motorcycle and scooter after determining the profit and loss calculation formula. The entire cost price will then be calculated, and the selling price will be contrasted with it. We can refer to an outcome as a profit or a loss depending on whether the cost price is less than the selling price.
Given: For Motorcycle i) Selling Price (SP)= Rs. 12,000
ii) Loss %= 20%  
Question ImageFor Scooter i) Selling Price (SP)= Rs. 12,000
ii) Gain %= 20%
Question ImageHence, the correct option is 2.
 
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