The cost price of a watch is Rs. 750 and a bag is Rs. 840. A shopkeeper sold the watch at profit of 20% and the bag at loss of 15%. Find the overall profit or loss received by the shopkeeper (in Rs.)?

Explanation

Information Given: Cost price of watch = Rs. 750 Cost price of bag = Rs. 840 Watch sold at 20% profit Bag sold at 15% loss Concept/Formula Used: Profit/Loss = Selling Price – Cost Price Profit% = (Profit / Cost Price) × 100 Selling Price (SP) at profit = CP × (1 + Profit%) Selling Price (SP) at loss = CP × (1 – Loss%) Overall profit/loss = Total SP – Total CP Explanation: SP of watch = 750 × 1.20 = Rs. 900 SP of bag = 840 × 0.85 = Rs. 714 Total cost price = 750 + 840 = Rs. 1590 Total selling price = 900 + 714 = Rs. 1614 Overall profit = 1614 – 1590 = Rs. 24