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A refrigerator and a camera were sold for Rs. 12000 each. The refrigerator was sold at a loss of 20% of the cost and camera at a gain of 20% of the cost. The entire transaction results in which one of the following?

A) No loss or gain
B) Loss of Rs. 1000
C) Gain of Rs. 1000
D) Loss of Rs. 2000

Correct Answer:


B) Loss of Rs. 1000

Description for Correct answer:

Let the cost price of refrigerator be Rs. x and that of a camera be Rs. y

Since refrigerator was sold for as sold for Rs. 12000 at a loss of 20%.
12000 = \( \Large x \left( \frac{100 - 20}{100} \right)\)

= > x = \( \Large\frac{12000 \times 100}{80} = 15,000 \) and a camera was sold for Rs. 12000 at a profit of 20%.

12000 = \( \Large y \left( \frac{12000 \times 100}{120} \right) \)

Y = \( \Large\frac{12000 \times 100}{120} \)
= 10000

Total cost price of both items = x + y
= 15000 + 10000
= Rs. 25,000

And total selling price of both items

= 12000 + 12000

= Rs. 24000
Loss = 25000 - 24000
=Rs.1000

Part of solved Profit and Loss questions and answers : >> Aptitude >> Profit and Loss

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