A man sold an almirah for ₹960 at a loss of 4%. He then sold a folding bed for ₹840 at a profit of 20%. Find his profit or loss.

Explanation

Given: A man sold an almirah for ₹960 at a loss of 4%. He then sold a folding bed for ₹840 at a profit of 20%. Concept used: Selling Price = Cost Price - Cost Price × Loss% Selling Price = Cost Price + Cost Price × Gain% Profit = Selling Price - Cost Price Calculation: Let the cost price of the almirah and folding bed be P and Q respectively. According to the question, P - P × 4% = 960 ⇒ 0.96P = 960 ⇒ N = 960/0.96 ⇒ N = 1000 According to the question, Q + Q × 20% = 840 ⇒ 1.2Q = 840 ⇒ Q = 840/1.2 ⇒ Q = 700 Total cost price of two of these articles = 1000 + 700 = Rs. 1700 Total selling price of two of these articles = 960 + 840 = Rs. 1800 Now, his profit = 1800 - 1700 = Rs. 100 ∴ His profit is Rs. 100. Alternate Method In case of Almirah, we have Loss% = 4% = 1/25 Ratio of C.P. to S.P. = 25 : 24 ⇒ 24 unit = Rs. 960 ⇒ 25 units = (960/24) × 25 = Rs. 1000 In case of folding bed, we have Profit % = 20% = 1/5 Ratio of C.P. to S.P. = 5 : 6 ⇒ 6 units = Rs. 840 ⇒ 5 units = (840/6) × 5 = Rs. 700 Now, Total C.P. = Rs. 1000 + Rs. 700 = Rs. 1700 Total S.P. = Rs. 960 + Rs. 840 = Rs. 1800 Profit = 1800 - 1700 = Rs. 100