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      Question

      A trader purchased a table for Rs. 5,000 and a chair for

      Rs. 2,000. He sold the table at a profit of 30% and the chair at a loss of 25%. Calculate the total profit or loss in the transaction.
      A Rs.2500 Profit Correct Answer Incorrect Answer
      B Rs.2000 Loss Correct Answer Incorrect Answer
      C Rs.1000 Profit Correct Answer Incorrect Answer
      D Rs.1000 Loss Correct Answer Incorrect Answer

      Solution

      ATQ,

      Sum of cost price of the table and chair = 5000 + 2000 = Rs. 7,000

      Selling price of the table = 5000 Γ— 1.30 = Rs. 6,500

      Selling price of the chair = 2000 Γ— 0.75 = Rs. 1,500

      Total profit in the transaction = (6500 + 1500) - 7000 = Rs. 1,000

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