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CAT 1996 | Question: 113

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I sold two watches for Rs. $300$ each, one at a loss of $10$% and the other at a profit of $10$%. What is the percent loss $(–)$ or the percent profit $(+)$ that resulted from the transaction?

  1. $(+) 10$ 
  2. $(–) 1$ 
  3. $(+) 1$
  4. $0$

1 Answer

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1 1 vote
  • When there was 10% loss,

SP = CP1 - loss

$\therefore$ 300 = CP1 - 0.1 CP1

300 = 0.9 CP1

CP1 = 300/0.9    ....(1)

 

  • When there was 10% profit,

SP = CP2 + profit

$\therefore$ 300 = CP2 + 0.1 CP2

300 = 1.1 CP2

CP2 = 300/1.1   ....(2)

 

Total SP of two watches = 300 + 300 = 600

Total CP of two watches = CP1 + CP2 = 606.06

So we can see there is a loss of Rs.6.06

$\therefore$ loss percent = (6.06/600)*100 = 1 % (approximately)

B is the answer.

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