Meera purchased an item for Rs. 62,000/- and sold it at a loss of 25 percent. With that amount she purchased another item and sold it at a gain of 30 percent. What was her overall gain/loss ?
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Loss of Rs. 1560/-
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Profit of Rs. 1560/-
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Loss of Rs. 1550/-
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Profit of Rs. 1550/-
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None of these
C
Correct answer
Explanation
First sale: 62000 with 25% loss = 62000 × 0.75 = 46500. Second sale: 46500 with 30% gain = 46500 × 1.3 = 60450. Overall: 60450 - 62000 = -1550, which is a loss of Rs. 1550. Option B is incorrect sign error.