A VCR and TV were bought for Rs.8,000 each. The shopkeeper made a loss of 4% on the VCR and a profit of 8% on the TV. What will be the gain or loss percent on the whole transaction?

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Rs.230

Rs.320

Rs.120

Rs.210

answer is B.

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Detailed Solution

We have the following as given,
The cost of VCR and TV is Rs.8,000.
Loss made on VCR is 4%.
Profit made on TV is 8%.
Calculating the loss made on VCR:
Loss = 4%
Loss on VCR = 4% of Cost Price of VCR

= 4100 × Cost Price

= 4100 × 8000 = 320

Hence the loss made on VCR is Rs.320.
Calculating the selling price of VCR using the formula for loss:
Cost Price of VCR is Rs.8,000.
Then, Selling Price of VCR = Cost Price of VCR – Loss
=8000-320
=7680
Hence the selling price of VCR is Rs.7,680
Now the profit made on TV:
Profit = 8%
Profit on TV = 8% of Cost Price of TV

= 8100 × Cost Price = 8100 × 8000 = 640

Hence the profit made on TV is Rs.640.
Then, Selling Price of TV = Cost Price of TV+Profit
=8000+640
=8640
Calculating the total cost price and selling price using the formula for gain:
Total Cost Price = Cost Price of VCR + Cost Price of TV

= 8000 + 8000 = 16000

Hence the total cost price is Rs.16000.
Total Selling Price = Selling Price of VCR + Selling Price of TV
=7680+8640
=16320
Hence the total selling price is Rs.16,320.
Calculating the gain or loss on the whole transaction:
The total cost price is Rs.16,000.
The total selling price is Rs.16,320.
So, the Total Selling Price is greater than Total Cost Price, hence gain made on whole transaction is:
Gain = Total Selling Price – Total Cost Price