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Asked in a 2000 paper

Ramees sold two bicycles, each for Rs.990. If he made 10% profit on the first and 10% loss on the second, what is the total cost of both bicycles?

Correct answer: A. Rs.2000

  • A. Rs.2000
  • B. Rs.1980
  • C. Rs.1891
  • D. Rs.1750

Explanation

For the first bicycle, the cost price is Rs.990/1.10 = Rs.900. For the second, the cost price is Rs.990/0.90 = Rs.1,100, so the total cost is Rs.900 + Rs.1,100 = Rs.2,000. Students often choose Rs.1,980 by adding the two selling prices and overlooking that one bicycle was sold at a loss.

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About Profit and Loss

Profit and loss compare the cost price and selling price of an item, using profit or loss percentages based on the cost price unless stated otherwise. Questions include marked price, discount, successive discounts, commission, and finding an unknown price, with care needed to distinguish discount from loss.

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