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A television and a refrigerator were sold for $ 12,000 each. If the television was sold at a loss of 20% of the cost and the refrigerator at a gain of 20% of the cost, the entire transaction resulted in
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- No loss or gain
- Loss of $ 1,000
- Gain of $ 1,000
- Loss of $ 1,200
Correct Option: B
Given , SP of Television = $ 12000
At 20% loss ,
| ∴ CP of Television = | × 100 = $ 15000 | 80 |
and SP of refrigerator = $ 12000
At 20% gain ,
| ∴ CP of refrigerator = | × 100 = $ 10,000 | 120 |
Total C.P. = 15000 + 10,000 = $ 25000
SP of both = 24,000
∴ Loss = Total C.P. - Total SP = 25,000 – 24,000 = $ 1000
