Question

I sold two watches for Rs. 300 each, one at the loss of 10% and the other at the profit of 10%. What is the percentage of loss(-) or profit(+) that resulted from the transaction?

• A. (+)10
• B. (-)1
• C. (+)1
• D. (-)10

Hint:

When dealing with profit and loss percentages, always calculate the cost price and then determine the overall gain or loss.

Answer 1

The Correct Option is B

The first watch is sold at a loss of 10%. The selling price is Rs. 300, so the cost price is: \[ \text{Cost Price of first watch} = \frac{300}{1 - 0.10} = \frac{300}{0.90} = 333.33 \, \text{Rs.} \] The second watch is sold at a profit of 10%. The selling price is Rs. 300, so the cost price is: \[ \text{Cost Price of second watch} = \frac{300}{1 + 0.10} = \frac{300}{1.10} = 272.73 \, \text{Rs.} \] Step 1: Total cost price of both watches: \[ \text{Total Cost Price} = 333.33 + 272.73 = 606.06 \, \text{Rs.} \] Step 2: Total selling price of both watches: \[ \text{Total Selling Price} = 300 + 300 = 600 \, \text{Rs.} \] Step 3: Calculate the overall loss: \[ \text{Loss} = \text{Total Cost Price} - \text{Total Selling Price} = 606.06 - 600 = 6.06 \, \text{Rs.} \] Step 4: The percentage of loss is: \[ \text{Percentage of Loss} = \frac{6.06}{606.06} \times 100 = 1% \, \text{(approximately)}. \] Thus, the overall loss is 1%. The answer is: (-)1.