Question

Wasim bought two cricket bats for Rs.840 and Rs.360 respectively. He sells the first bat at a gain of $15\% $ and the second one at loss of $5\% $. Find his gain or loss per cent in the whole transaction.

Answer 1

Hint: This question is based on the concept of profit and loss concept of money.
We need to calculate total profit or loss.
So after calculation for total SP and CP if $CP > SP$ then he will have loss and if $CP < SP$ he will have profit.
Then by applying a formula for profit or loss we will solve the above question.
Formula used
1. $SP = CP + Profit$
2. $SP = CP - Loss$
3. $Gain\% = (Gain/CP) \times 100$

Complete step-by-step answer:
CP of two cricket bat is Rs. 840 and Rs. 360
On first he gain $5\% $
We know that, $SP = CP + Profit$
So, selling price if 1st bat $ = 840 + (840 \times 15\% )$
Or
SP $ = $ Rs. 966
On second he lose $5\% $
$SP = CP - Loss$
So, $SP = 360 - (360 \times 5\% ) = Rs.342$
Now we will calculate total selling and cost price.
Total CP $ = 840 + 360 = Rs.1200$
Total SP $ = 342 + 966 = Rs.1308$
Clearly he makes gain as $SP > CP$
Total gain $ = 1308 - 1200 = Rs.108$
$gain\% = (gain/CP) \times 100$
$ = \left( {\dfrac{{108}}{{1200}}} \right) \times 100$
$ = 9\% $
Hence gain $\% $ is $9\% $

Note: 1. For profit, the selling price should be more than the cost price.
2. For loss, the cost price should be more than the selling price.
3. The percentage value for profit and loss is calculated in terms of cost price.