Quantitative Aptitude :: Profit and Loss Problems And Answers

57. Ranjeet purchased an item for Rs.3500 and sold it at the loss of 25%. From that amount he purchased another item and sold it at the gain of 20%. What is his overall gain/loss?

A. Loss of Rs.240 B. Gain of Rs.120
C. Loss of Rs.350  D. Neither gain nor loss
Answer & Explanation

Answer: Option C

Explanation:
1st SP = Rs.3500 – 25% of 3500 = Rs.3500 – 875 = Rs.2625.
 (24% = ¼)
2nd SP = Rs.2625 + 20% of 2625 = Rs.2625 + 525 = Rs.3150.
:. Overall loss = Rs.3500 – Rs.3150 = Rs.350.


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