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A Shop Keeper sells two bags for Rs. 500 each. On one, he gets 14% profit and on the other he gets 14% loss. His profit or loss in the entire transaction was?
- a)64/25 % Gain
- b)49/25 % Gain
- c)64/25 % Loss
- d)49/25 % Loss
- e)None of these
Correct answer is option 'D'. Can you explain this answer?
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Verified Answer
A Shop Keeper sells two bags for Rs. 500 each. On one, he gets 14% pro...
If the selling price of 2 articles is same then on one he gains x% and on one other he losses x% then there is always a loss of x%of x.
49/25 % Loss
Explanation :
% = x
Loss % = x^2/100 = 196/100 = 49/25%
Most Upvoted Answer
A Shop Keeper sells two bags for Rs. 500 each. On one, he gets 14% pro...
Profit and Loss Calculation:
Let's assume the cost price of the first bag is 'x', and the cost price of the second bag is 'y'.
Given:
Selling price of the first bag = Rs. 500
Profit percentage on the first bag = 14%
Profit is calculated using the formula:
Profit = Selling price - Cost price
Profit percentage = (Profit/Cost price) * 100
Using the above formulas, we can write the following equations:
Equation 1: 500 - x = (14/100) * x
Equation 2: 500 - y = -(14/100) * y
Solving the equations:
Equation 1: 500 - x = (14/100) * x
Multiplying both sides by 100 to remove the fraction:
50000 - 100x = 14x
Bringing 'x' terms to one side:
14x + 100x = 50000
114x = 50000
x = 50000/114
x = 438.60 (approx.)
Equation 2: 500 - y = -(14/100) * y
Multiplying both sides by 100 to remove the fraction:
50000 - 100y = -14y
Bringing 'y' terms to one side:
-14y + 100y = 50000
86y = 50000
y = 50000/86
y = 581.40 (approx.)
Overall Profit or Loss Calculation:
Total cost price = x + y
Total selling price = 500 + 500
Profit or Loss is calculated using the formula:
Profit or Loss = (Total selling price - Total cost price) / Total cost price * 100
Substituting the values, we get:
Total cost price = 438.60 + 581.40 = 1020
Total selling price = 500 + 500 = 1000
Profit or Loss = (1000 - 1020) / 1020 * 100
= -20 / 1020 * 100
= -1.96% (approx.)
Therefore, the shopkeeper incurred a loss of 1.96% in the entire transaction.
The correct answer is option D) 49/25% Loss.
Let's assume the cost price of the first bag is 'x', and the cost price of the second bag is 'y'.
Given:
Selling price of the first bag = Rs. 500
Profit percentage on the first bag = 14%
Profit is calculated using the formula:
Profit = Selling price - Cost price
Profit percentage = (Profit/Cost price) * 100
Using the above formulas, we can write the following equations:
Equation 1: 500 - x = (14/100) * x
Equation 2: 500 - y = -(14/100) * y
Solving the equations:
Equation 1: 500 - x = (14/100) * x
Multiplying both sides by 100 to remove the fraction:
50000 - 100x = 14x
Bringing 'x' terms to one side:
14x + 100x = 50000
114x = 50000
x = 50000/114
x = 438.60 (approx.)
Equation 2: 500 - y = -(14/100) * y
Multiplying both sides by 100 to remove the fraction:
50000 - 100y = -14y
Bringing 'y' terms to one side:
-14y + 100y = 50000
86y = 50000
y = 50000/86
y = 581.40 (approx.)
Overall Profit or Loss Calculation:
Total cost price = x + y
Total selling price = 500 + 500
Profit or Loss is calculated using the formula:
Profit or Loss = (Total selling price - Total cost price) / Total cost price * 100
Substituting the values, we get:
Total cost price = 438.60 + 581.40 = 1020
Total selling price = 500 + 500 = 1000
Profit or Loss = (1000 - 1020) / 1020 * 100
= -20 / 1020 * 100
= -1.96% (approx.)
Therefore, the shopkeeper incurred a loss of 1.96% in the entire transaction.
The correct answer is option D) 49/25% Loss.
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A Shop Keeper sells two bags for Rs. 500 each. On one, he gets 14% profit and on the other he gets 14% loss. His profit or loss in the entire transaction was?a)64/25 % Gainb)49/25 % Gainc)64/25 %Lossd)49/25 %Losse)None of theseCorrect answer is option 'D'. Can you explain this answer?
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A Shop Keeper sells two bags for Rs. 500 each. On one, he gets 14% profit and on the other he gets 14% loss. His profit or loss in the entire transaction was?a)64/25 % Gainb)49/25 % Gainc)64/25 %Lossd)49/25 %Losse)None of theseCorrect answer is option 'D'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about A Shop Keeper sells two bags for Rs. 500 each. On one, he gets 14% profit and on the other he gets 14% loss. His profit or loss in the entire transaction was?a)64/25 % Gainb)49/25 % Gainc)64/25 %Lossd)49/25 %Losse)None of theseCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A Shop Keeper sells two bags for Rs. 500 each. On one, he gets 14% profit and on the other he gets 14% loss. His profit or loss in the entire transaction was?a)64/25 % Gainb)49/25 % Gainc)64/25 %Lossd)49/25 %Losse)None of theseCorrect answer is option 'D'. Can you explain this answer?.
A Shop Keeper sells two bags for Rs. 500 each. On one, he gets 14% profit and on the other he gets 14% loss. His profit or loss in the entire transaction was?a)64/25 % Gainb)49/25 % Gainc)64/25 %Lossd)49/25 %Losse)None of theseCorrect answer is option 'D'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about A Shop Keeper sells two bags for Rs. 500 each. On one, he gets 14% profit and on the other he gets 14% loss. His profit or loss in the entire transaction was?a)64/25 % Gainb)49/25 % Gainc)64/25 %Lossd)49/25 %Losse)None of theseCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A Shop Keeper sells two bags for Rs. 500 each. On one, he gets 14% profit and on the other he gets 14% loss. His profit or loss in the entire transaction was?a)64/25 % Gainb)49/25 % Gainc)64/25 %Lossd)49/25 %Losse)None of theseCorrect answer is option 'D'. Can you explain this answer?.
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