Complete question :
shopkeeper sells one machine for 990 re at a profit of 10% and another machine for 1960 at a loss of 2%. What is his gain or loss percent
Answer:
1.72%
Step-by-step explanation:
Given that :
MACHINE 1:
Sales price = 990
Profit percent = 10%
The cost price of the machine (x) :
10% profit of x :
(100 + 10)% of x = 990
110% of x = 990
1.1x = 990
x = 990/1.1
x = 900
MACHINE 2:
Sales price = 1960
Loss on sale = 2%
Cost price (x) :
(100 - 2)% of x = 1960
98% x = 1960
0.98x = 1960
x = 1960/0.98
x = 2000
Total amount realized from sale = (990 + 1960) = 2950
Total cost of production = (2000 + 900) = 2900
Profit Made = (2950 - 2900) = 50
% profit:
(Profit / cost of production) * 100
(50 / 2900) * 100%
0.0172413 * 100%
profit % = 1.72
The profit made is 50
Cost price of first machine will be:
= 100/(100 + 10) × 990
= 100/110 × 990
= 100 × 9
= 900
Cost price for second machine will be:
= (100 - 2) × x = 1960
= 98% × x = 1960
= 0.98x = 1960
x = 1960/0.98.
x = 2000
The total cost price = 900 + 2000 = 2900
Total selling price = 990 + 1960 = 2950
Therefore, profit will be:
= Selling price - Cost price .
= 2950 - 2900
= 50
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