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# A man sold 2 watches, one at a profit of 10% and the other

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Manager
Joined: 28 Jun 2004
Posts: 90

Kudos [?]: 104 [0], given: 0

A man sold 2 watches, one at a profit of 10% and the other [#permalink]

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23 Aug 2004, 17:18
This topic is locked. If you want to discuss this question please re-post it in the respective forum.

A man sold 2 watches, one at a profit of 10% and the other at a lost of 10%. If the selling prices of both were the same, how much percent did he gain or loose on the whole?

Kudos [?]: 104 [0], given: 0

Joined: 31 Dec 1969

Kudos [?]: [0], given:

Location: Russian Federation
GMAT 3: 740 Q40 V50
GMAT 4: 700 Q48 V38
GMAT 5: 710 Q45 V41
GMAT 6: 680 Q47 V36
GMAT 9: 740 Q49 V42
GMAT 11: 500 Q47 V33
GMAT 14: 760 Q49 V44
WE: Supply Chain Management (Energy and Utilities)

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23 Aug 2004, 18:15
Let SP = 100

CP1 = (100/111)*100 = 1000/11 = 90.909

CP2 = (100/90)*100 = 1000/9 = 111.111

Total CP = CP1+CP2 = 202.02
Total SP = 100 +100 = 200

Net loss = (2.02/202)*100 = 1%

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Manager
Joined: 28 Jun 2004
Posts: 90

Kudos [?]: 104 [0], given: 0

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23 Aug 2004, 18:18
Cool. I actually assumed the selling price as x and solved from there. But I am quickly finding out that substituting numbers can really speed up the calculations.

Kudos [?]: 104 [0], given: 0

Director
Joined: 16 Jun 2004
Posts: 891

Kudos [?]: 65 [0], given: 0

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23 Aug 2004, 18:33
the guest was me....sorry i forget to login always..

Incidcentally, there is a better shortcut to approach such problems..
If two articles are sold at the same price (same SP, S), one at a profit of p% and another at a loss of p%, the NET LOSS is given by (p^2/100)%.,

The amount of of net loss = (2.p^2.S)/(100^2-p^2). If you can remember these two formulae, you can gain more time.

Kudos [?]: 65 [0], given: 0

23 Aug 2004, 18:33
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