Join ExamsbookAnswer : 1. "33.33%"
Mr. X sold two properties P1 and P2 for Rs 1,00,000 each. He sold property P1 for 20% less than what he paid for it. What is the percentage of profit of property P2, so that he is not in gain or loss on the sale of two properties?5
Q: Mr. X sold two properties P1 and P2 for Rs 1,00,000 each. He sold property P1 for 20% less than what he paid for it. What is the percentage of profit of property P2, so that he is not in gain or loss on the sale of two properties?
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Answer : 1. "33.33%"
Explanation :
Answer: A) 33.33% Explanation: Let 'A' be the cost price of property P1. Then from the given data, the selling price of P1 = Rs. 1,00,000 He got 20% loss on selling P1 ⇒A - 20A100 = 100000⇒A = 1,25,000 Therefore, the amount he lossed on selling P1 = 25,000 As ge he got no loss or gain on sale of P1 and P2, the gain on selling P2 = 25,000 But the selling price of P2 = 1,00,000 => Cost price of P2 = 75,000 Hence, the profit percentage on P2 = GainCPx 100 = 2500075000x100 = 1003= 33.33%