Multiple choice

Mr. Kapur purchased two toy cycles for Rs. 375 each. He sold these cycles, gaining 6% on one and losing 4% on the other. The gain or loss percent in the whole transaction is

  1. 1% loss

  2. 1% gain

  3. 1.5% loss

  4. 1.5 gain
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Cost price of each cycle is 375. Total CP = 750. Selling price 1 = 375 * 1.06 = 397.5. Selling price 2 = 375 * 0.96 = 360. Total SP = 757.5. Gain = 7.5. Gain percent = (7.5 / 750) * 100 = 1%.

AI explanation

When two articles are sold at the same price with a gain of x% and a loss of y%, the overall gain or loss percentage is always calculated as (x - y) / 2. Plugging in the given percentages, we get (6 - 4) / 2 = 1. Since the result is positive, there is a 1% gain in the entire transaction.

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