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Select the correct answerA man bought 2 articles for ₹3050 each. He sold one article at 10% loss and another at 20% profit. The total profit/loss percentage he earned is?Options10% profit5% loss5% profit10% loss

Question

Select the correct answerA man bought 2 articles for ₹3050 each. He sold one article at 10% loss and another at 20% profit. The total profit/loss percentage he earned is?Options10% profit5% loss5% profit10% loss

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Solution

Let's solve this step by step:

  1. The cost price of each article is ₹3050. So, the total cost price for 2 articles is 3050*2 = ₹6100.

  2. He sold the first article at 10% loss. So, the selling price of the first article is 90% of ₹3050 = 0.9*3050 = ₹2745.

  3. He sold the second article at 20% profit. So, the selling price of the second article is 120% of ₹3050 = 1.2*3050 = ₹3660.

  4. The total selling price for both articles is 2745+3660 = ₹6405.

  5. The total profit or loss is the total selling price - total cost price = 6405-6100 = ₹305.

  6. The percentage of profit or loss is (Profit or Loss/Total Cost Price)*100 = (305/6100)*100 = 5%.

Since the value is positive, it is a profit. So, the correct answer is 5% profit.

This problem has been solved

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