Question

Sita bought a sofa set for Rs 30,000 and a dining set for Rs 20,000. He sold the sofa set at a loss of 5% but made a profit of 5% on the dining set. The net result of the transaction is?

Answer 1

Answer: See explanation

Explanation:

Sita bought a sofa set for Rs 30,000 and sold the sofa set at a loss of 5%. The loss on the sofa will be:

= 5% × 30000

= 5/100 × 30000

= 0.05 × 30000

= 1500

Selling price of the sofa = 30000 - 1500 = 28500

Sita bought a dining set for Rs 20,000 and made a profit of 5% on the dining set. The selling price of the dining set will be:

= 20000 + (5% × 20000)

= 20000 + (0.05 × 20000)

= 20000 + 1000

= 21000

The cost price of the sofa and dining set will be:

= Rs 20000 + Rs 30000

= Rs 50000

The selling price of the dining set will be:

= Rs 28500 + Rs 21000

= Rs 49500

The net result of the transaction is will be:

Selling price - Cost price

= 49500 - 50000

= -500

There's a net loss of $500