GIVEN:
Selling price of first article is ₹ 470.
Cost price of second article is ₹ 470.
Loss of 20% on first article
Profit of 20% on second article
CONCEPT:
Total loss/gain = (C.P. of all article – S.P. of all article)
FORMULA USED:
S.P. = C.P. (1 + gain%/100)
S.P. = C.P. (1 - loss%/100)
CALCULATION:
There is loss of 20% on first article
S.P. of 1st = Rs. 470
C.P. of 1st = 470/.8 = 587.5
Similarly, S.P. of 2nd = 470 × 1.2 = 564
Total C.P. = 587.5 + 470 = 1057.5
Total S.P. = 470 + 564 =1034
Loss = 1057.5 – 1034 = 23.5
Loss% 23.5/1057.5 = 2.2%
Alternate MethodSelling price(SP) of the first article is ₹ 470, loss 20%
The cost price(CP) of first article = SP × 100/(100 - 20)
⇒ CP of first article = 470 × 100/80 = Rs. 587.5
The cost price of the second article is ₹ 470, Sell at 20% profit
⇒ SP = CP(100 + profit)/100
⇒ 470 × (100 + 20)/100
⇒ Rs. 564
Total CP = 587.5 + 470 = 1057.5
Total SP = 470 + 564 = 1034
Loss % = (CP - SP)100/CP = (1057.5 - 1034)100/1057.5
⇒ 2350/1057.5
⇒ 2.22%