A person sells two fans for Rs 3400. The cost price of the first fan is equal to the selling price of the second fan. If the first is sold at 30% loss and the second at 100% gain, what is total profit or loss (in rupees)?
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375
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350
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400
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380
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None of these
C
Correct answer
Explanation
Let CP1 be cost price of first fan, SP2 be selling price of second fan. Given CP1 = SP2. Let CP2 be cost price of second fan. First fan: SP1 = 0.7 CP1 (30% loss). Second fan: SP2 = 2 CP2 (100% gain). Total SP = 3400. So 0.7 CP1 + CP1 = 3400 (since CP1 = SP2). Thus 1.7 CP1 = 3400, CP1 = 2000. CP2 = CP1/2 = 1000 (since SP2 = 2 CP2). Total CP = 2000 + 1000 = 3000. Profit = 3400 - 3000 = 400.