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Meera purchased an item for Rs 62,000 and solid it at a loss of 25 percent. With that amount, she purchased another item and sold it at a gain of 30 percent. What was her overall gain/loss?
  • a)
    Loss of Rs 1560
  • b)
    Profit of Rs 1560
  • c)
    Loss of Rs 1550
  • d)
    Profit of Rs 1550
  • e)
    None of these
Correct answer is option 'C'. Can you explain this answer?
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Meera purchased an item for Rs 62,000 and solid it at a loss of 25 per...
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Meera purchased an item for Rs 62,000 and solid it at a loss of 25 per...
Solution:

Given,

Cost price of the first item = Rs 62,000

Loss on the first item = 25%

Selling price of the first item = 62,000 - (25% of 62,000) = Rs 46,500

Now,

Cost price of the second item = Rs 46,500

Gain on the second item = 30%

Selling price of the second item = 46,500 + (30% of 46,500) = Rs 60,450

Overall gain/loss = Selling price of the second item - Cost price of the first item

= 60,450 - 62,000

= Rs 1550 (loss)

Therefore, the correct option is (c) Loss of Rs 1550.

Note: We can also solve this problem by using the concept of successive discounts and markups.
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Meera purchased an item for Rs 62,000 and solid it at a loss of 25 percent. With that amount, she purchased another item and sold it at a gain of 30 percent. What was her overall gain/loss?a)Loss of Rs 1560b)Profit of Rs 1560c)Loss of Rs 1550d)Profit of Rs 1550e)None of theseCorrect answer is option 'C'. Can you explain this answer?
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Meera purchased an item for Rs 62,000 and solid it at a loss of 25 percent. With that amount, she purchased another item and sold it at a gain of 30 percent. What was her overall gain/loss?a)Loss of Rs 1560b)Profit of Rs 1560c)Loss of Rs 1550d)Profit of Rs 1550e)None of theseCorrect answer is option 'C'. 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 Meera purchased an item for Rs 62,000 and solid it at a loss of 25 percent. With that amount, she purchased another item and sold it at a gain of 30 percent. What was her overall gain/loss?a)Loss of Rs 1560b)Profit of Rs 1560c)Loss of Rs 1550d)Profit of Rs 1550e)None of theseCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Meera purchased an item for Rs 62,000 and solid it at a loss of 25 percent. With that amount, she purchased another item and sold it at a gain of 30 percent. What was her overall gain/loss?a)Loss of Rs 1560b)Profit of Rs 1560c)Loss of Rs 1550d)Profit of Rs 1550e)None of theseCorrect answer is option 'C'. Can you explain this answer?.
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