A shop and a car were sold for ₹2,70,000 each. Due to increased scope of business, shop was sold at a profit of 20% but due to depreciation, car could be sold at a loss of 10%. How much profit or loss resulted in the entire transaction?
Answer & explanation
Correct answer: option 3
Selling price of shop = 270000
Selling price of car = 270000
Shop has a profit of 20%
Cost price of the shop = 270000*(100/(100+20)) = 5*270000/6 = 5*45000 = 225000
Car has a loss of 10%
Cost price of the car = 270000*(100/(100-10)) = 300000
Net Profit = (2*2750000)-225000-300000 = 15000
The correct answer is Option (3) → Profit 15,000