A man sells 2 articles at the same price. On one he makes a profit of 19% and on the other he makes a loss of 19%. What is his overall profit or loss percentage?Options4.31% Profit 3.61% Loss4.25% LossNo profit no loss
Question
A man sells 2 articles at the same price. On one he makes a profit of 19% and on the other he makes a loss of 19%. What is his overall profit or loss percentage?Options4.31% Profit 3.61% Loss4.25% LossNo profit no loss
Solution
The man's overall transaction results in a loss. Here's how to calculate it:
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Let's assume the cost price of each article is $100 (this makes it easier to calculate percentages).
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The selling price of the article he sold at a 19% profit is $119 (100 + 19% of 100).
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The selling price of the article he sold at a 19% loss is $81 (100 - 19% of 100).
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So, he sold both articles for 200 (100 + 100).
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To find the loss percentage, we subtract the total selling price from the total cost price, divide by the total cost price, and multiply by 100.
So, Loss % = [(200 - 200) / 200] * 100 = 0%
This means there is no profit, no loss.
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