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Avinash bought an electric iron for Rs 900 and sold it at a gain of 10%. He sold another electric iron at 5% loss which was bought Rs 1200. On the transaction he has a
(a) Profit of Rs 75
(b) Loss of Rs 75
(c) Profit of Rs 30
(d) Loss of Rs 30

Solution:

The Cost Price (CP) of first electric iron = Rs. 900

Since Avinash sells it at a profit/gain of 10%, the Selling Price (SP) will be:

SP = (110/100) × 900

= Rs. 990

The Selling price of the other iron bought by avinash at Rs. 1200 will be

SP = (95/100) × 1200(Since Avinash sells it at a loss of 5%)

= Rs. 1140

The total amount Avinash receives (Selling price) by selling the two irons is:

= Rs. 990 + Rs. 1140 = Rs. 2130

The total cost price of both the irons = Rs. 900 + Rs. 1200 = Rs. 2100

Hence Avinash makes a profit on the transactions of:

Profit = Rs. 2130 - Rs. 2100 = Rs. 30

✦ Try this: Avinash bought an electric iron for Rs 1000 and sold it at a gain of 12%. He sold another electric iron at 6% loss which was bought at Rs 900. On the transaction he makes a profit/loss of:

The Cost Price (CP) of first electric iron = Rs. 1000

Since Avinash sells it at a profit/gain of 10%, the Selling Price (SP) will be:

SP = (112/100) × 1000

= Rs. 1120

The Selling price of the other iron bought by avinash at Rs. 900 will be

SP = (94/100) × 900 (Since Avinash sells it at a loss of 6%)

= Rs. 846

The total amount Avinash receives (Selling Price) by selling the two irons is:

= Rs. 1120 + Rs. 846 = Rs. 1966

The total cost price of both the irons = Rs. 1200 + Rs. 900 = Rs. 2100

Hence Avinash makes a loss on the transactions of:

Profit = Rs. 2100 - Rs. 1966 = Rs. 134

☛ Also Check: NCERT Solutions for Class 8 Maths Chapter 8

NCERT Exemplar Class 8 Maths Chapter 9 Problem 17

Avinash bought an electric iron for Rs 900 and sold it at a gain of 10%. He sold another electric iron at 5% loss which was bought Rs 1200. On the transaction he has a (a) Profit of Rs 75, (b) Loss of Rs 75, (c) Profit of Rs 30, (d) Loss of Rs 30

Summary:

Avinash bought an electric iron for Rs 900 and sold it at a gain of 10%. He sold another electric iron at 5% loss which was bought at Rs 1200. On the transaction he has a profit of Rs. 30

☛ Related Questions:

Avinash bought an electric iron for Rs 900 and sold it at a gain of 10%. He sold another electric iron at 5% loss which was bought Rs 1200. On the transaction he has a (a) Profit of Rs 75 (b) Loss of Rs 75 (c) Profit of Rs 30 (d) Loss of Rs 30

Avinash bought an electric iron for Rs 900 and sold it at a gain of 10%. He sold another electric iron at 5% loss which was bought Rs 1200. On the transaction he has a (a) Profit of Rs 75, (b) Loss of Rs 75, (c) Profit of Rs 30, (d) Loss of Rs 30

Avinash bought an electric iron for Rs 900 and sold it at a gain of 10%. He sold another electric iron at 5% loss which was bought Rs 1200. On the transaction he has a
(a) Profit of Rs 75
(b) Loss of Rs 75
(c) Profit of Rs 30
(d) Loss of Rs 30