A bought an article for ₹4,800 and sold it at a loss of 30%. With this amount, he bought another article and sold it at a gain of 60%. What was his overall gain/loss?
Answer & explanation
Correct answer: option 2
Let the cost price of the article = 100
Loss = 30%
Then the selling price of the article = 70% of 100 = 70
He bought the another article at the same price and sold it at a gain of 60% means,
CP of another article = 70
Profit = 60%
Then the SP of the another article = 160% of 70 = 112
According to the question,
Profit = 112 - 100 = 12
Profit% = 12 × \(\frac{100}{100}\) = 12%
Note= There is no use of actual amount in this type of questions.