Question

Ram Kumar bought two LED TV sets for Rs. 41,000. By selling one at a profit of 20% and the other at a loss of 15%, he found that the selling prices of both the TV sets are the same. Find his overall gain or loss.
1. Rs. 200 loss
2. Rs. 400 loss
3. Rs. 200 gain
4. Rs. 400 gain

Answer 1

Correct Answer - Option 1 : Rs. 200 loss

Given:

Ram Kumar bought two LED TV sets for Rs. 41,000, selling one at a profit of 20% and the other at a loss of 15%

Calculations:

Let the cost price of items be Rs. ‘x’ and Rs '41000-x’

He got 20% profit on Rs x & 15% loss on Rs ‘41000 - x’

Selling price (at profit) = x + 20% of x = 120% of x

Selling price (at loss) = 41000 - x - 15% of 41000 - x = 85% (41000 - x)

According to the question

120% of x = 85% (41000 - x)   (selling price are the same)

⇒ 120x = 85 × (41000 - x)

⇒ 24x = 17 × (41000 - x)

⇒ 41x = 17 × 41000

⇒ x = 17000 and 41000 - x = 24000

Total selling price = 120% of x + 85%(41000 - x)

⇒ 120% of 17000 + 85% of 24000

⇒ 19400 + 20400

⇒ 40800

So,

Loss = Cost Price - Selling Price

⇒ 41000 - 40800

⇒ 200 Rupees

∴ The correct choice is option 1.