My friend collects antique stamps. She purchased two, but found that she needed to raise money urgently. So she sold them for Rs. 8000 each. On one she made 20% and on the other she lost 20%. How much did she gain or lose in the entire transaction?
she lost Rs 500.67
she lost Rs 666.67
she gain Rs 666.67
she gain Rs 500.67
Explanation:
Let buying price of Ist stamp be Rs.x
Then
8000 - 0.2x = x
x = 8000/1.2
x = Rs.6666.67
Let buying price for IInd stamp be Rs.Y
Then
8000+0.2x = y
y = 8000/0.8
Y = Rs. 10000
Total money spend on purchasing the stamps
= x+y
= 6666.67+10000
= Rs.16666.67
Total money earned by selling the stamps = Rs.8000+8000
= Rs. 16000
Loss = Buying price - selling price
= Rs. 16666.67-16000
= Rs. 666.67 (Answer)
Let buying price of Ist stamp be Rs.x
Then
8000 - 0.2x = x
x = 8000/1.2
x = Rs.6666.67
Let buying price for IInd stamp be Rs.Y
Then
8000+0.2x = y
y = 8000/0.8
Y = Rs. 10000
Total money spend on purchasing the stamps
= x+y
= 6666.67+10000
= Rs.16666.67
Total money earned by selling the stamps = Rs.8000+8000
= Rs. 16000
Loss = Buying price - selling price
= Rs. 16666.67-16000
= Rs. 666.67 (Answer)