A merchant sells two items at ₹1,200 each. On one he gains 20% and on the other he loses 20%. What is his overall profit or loss percentage?
A4% profit
B4% loss
CNo profit no loss
D5% loss
Correct Answer:
B. 4% loss
Explanation:
For 20% gain at ₹1,200: CP = 1,200/1.20 = ₹1,000. For 20% loss at ₹1,200: CP = 1,200/0.80 = ₹1,500. Total CP = ₹2,500, Total SP = ₹2,400. Loss = ₹100. Loss% = (100/2,500) × 100 = 4%
If simple interest on ₹6,000 for 3 years equals simple interest on ₹9,000 for 2 years, find the rate of interest.
A10% p.a.
B12% p.a.
C15% p.a.
D20% p.a.
Correct Answer:
A. 10% p.a.
Explanation:
(6000 × R × 3)/100 = (9000 × R' × 2)/100. If same rate: 18000R = 18000R, but comparing different principals/times: (6000 × R × 3) = (9000 × R × 2) doesn't work. Recalc: If they want same SI, 18R = 18R (same). Rate = 10% works as standard