A person buys a house and a car for Rs. 5,00,000 each. He sells the house at a 20% profit and the car at a 10% loss. What is his overall profit or loss percentage? MCQ with Answer and Explanation
A person buys a house and a car for Rs. 5,00,000 each. He sells the house at a 20% profit and the car at a 10% loss. What is his overall profit or loss percentage?
A. 5% profit
B. 5% loss
C. 2.5% profit
D. 10% profit
Answer: Option A
Solution (By JKSSB Mock Tests)
Total Cost Price = 10,00,000. Profit on house = 1,00,000. Loss on car = 50,000. Net profit = 50,000. Profit percentage = (50,000 / 10,00,000) * 100 = 5% profit.
A man buys two items for a total of Rs. 3000. He sells one at a 20% profit and the other at a 10% loss. If he makes no overall profit or loss, what is the cost price of the first item?
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