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

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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. 10% profit

B. 5% loss

C. 5% profit

D. 2.5% profit

Answer: Option C

Solution (By JKExamLibrary)

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.

This question belongs to: Maths Profit And Loss

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Question #1 Report Error

A man buys oranges at 5 for Rs. 10 and an equal number at 4 for Rs. 10. He mixes them and sells the mixture at 9 for Rs. 20. Find his profit or loss percentage.

A. Profit of 1.23%

B. Loss of 1.23%

C. No profit no loss

D. Loss of 2.5%

View Answer & Solution Discuss

Correct Answer: Option B

Explanation:
Buy 20 oranges of type 1 for Rs. 40. Buy 20 oranges of type 2 for Rs. 50. Total 40 oranges cost Rs. 90. Cost Price of 1 orange = 90 / 40 = 2.25. Selling Price of 9 oranges = 20. Selling Price of 1 orange = 20 / 9 = 2.222. Loss = 2.25 - 2.222 = 0.0277. Loss percentage = (0.0277 / 2.25) * 100 = 1.23% loss.

This question belongs to: Maths Profit And Loss