A man sells two articles for Rs.3974 each. He sells first article at 25% profit. At what loss % he would have sold second article, if there is neither profit nor loss in whole transaction?
Question
A man sells two articles for Rs.3974 each. He sells first article at 25% profit. At what loss % he would have sold second article, if there is neither profit nor loss in whole transaction?
Solution
Sure, here is the step by step solution:
Step 1: The man sells two articles for Rs.3974 each, so the total selling price of the two articles is 2*3974 = Rs.7948.
Step 2: The first article is sold at a 25% profit. This means the cost price of the first article is 100/(100+profit%) * selling price = 100/(100+25) * 3974 = Rs.3179.2
Step 3: The total cost price of the two articles is the same as the total selling price because there is no overall profit or loss. So, the total cost price is Rs.7948.
Step 4: The cost price of the second article is the total cost price minus the cost price of the first article = 7948 - 3179.2 = Rs.4768.8
Step 5: The selling price of the second article is Rs.3974, so the loss on the second article is the cost price of the second article minus the selling price of the second article = 4768.8 - 3974 = Rs.794.8
Step 6: The percentage loss on the second article is (loss/cost price of the second article)*100 = (794.8/4768.8)*100 = 16.67%
So, the man would have sold the second article at a loss of 16.67%.
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