A sells 2 TV sets at same price, one at a loss of 15% and another at a profit of 15%. Find the loss/gain percentage in the overall transaction?
Question
A sells 2 TV sets at same price, one at a loss of 15% and another at a profit of 15%. Find the loss/gain percentage in the overall transaction?
Solution
Step 1: Let's assume the cost price of each TV set is $100 (for simplicity).
Step 2: When A sells the first TV set at a loss of 15%, the selling price becomes 100 is 100 - 85).
Step 3: When A sells the second TV set at a profit of 15%, the selling price becomes 100 is 100 + 115).
Step 4: So, the total cost price of the two TV sets is 100 + 200 (115).
Step 5: As the total selling price is equal to the total cost price, there is neither profit nor loss in the overall transaction. So, the loss/gain percentage in the overall transaction is 0%.
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