A new fridge is purchased at cost price of Rs. 20,000 while old fridge is purchased at the cost price of Rs. 15,000. On selling the fridges loss of 15% was made on new fridge; while on old fridge profit of 20% was made. What is the total profit/loss on purchase of both fridges?
A new fridge is purchased at cost price of Rs. 20,000 while old fridge is purchased at the cost price of Rs. 15,000. On selling the fridges loss of 15% was made on new fridge; while on old fridge profit of 20% was made. What is the total profit/loss on purchase of both fridges? Correct Answer Rs.0
Given:
A new fridge is purchased at cost price of Rs. 20,000 while old fridge is purchased at the cost price of Rs. 15,000.
New fridge is sold at the loss of 15% while on old fridge; profit of 20% is made.
Concepts used:
Profit % = (Profits/C.P.) × 100
Profits = S.P. – C.P.
Loss % = (Loss/C.P.) × 100
Loss = C.P. – S.P.
Calculation:
A new fridge is purchased at cost price of Rs. 20,000 and sold at the loss of 15%.
⇒ 15 = {(20,000 – S.P. of new fridge)/20,000} × 100
⇒ S.P. of new fridge = Rs. 17,000
An old fridge is purchased at cost price of Rs. 15,000 and sold at the profit of 20%.
⇒ 20 = {(S.P. of old fridge – 15,000)/15,000} × 100
⇒ S.P. of old fridge = Rs. 18,000
Total S.P. = Rs. 17,000 + Rs. 18,000 = Rs. 35,000
Total C.P. = Rs. 20,000 + Rs. 15,000 = Rs. 35,000
Total gain or loss = S.P. – C.P. = Rs. 35,000 – Rs.35, 000 = Rs. 0
∴ No profit or loss was made on purchase of old and new fridge.
