Question

A man bought two watches for Rs 2,500 each. He sold one of them at 10% profit and the other at 4% loss. What was his gain or loss percent on the whole?
help!..​

Answer 1

Answer:

$3\%$ profit as a whole.

Step-by-step explanation:

Find the net amount of money he/she had after selling the two watches and then divide it with the sum of purchase price to get the overall gain or loss. This can be found by multiplying each sale price with gain or loss. 10% gain means 1.10 in decimal and 4% loss means 0.96 in decimal.

10% means 10/100 = 0.10

4% means 4/100 = 0.04

I used 10% gain as 1 + 10 = 1.10 and 4% loss as 1 - 0.04 = 0.96

$=\frac{\left(2500\times \:1.10\right)+\left(2500\times \:0.96\right)}{5000}\\\\=\frac{2750+2400}{5000}\\\\=\frac{5150}{5000}\\\\=1.03$

This is similar to 1 + 0.03 = 1.03 and 0.03 means 0.03 x 100 = 3%

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