Gopal bought a cell phone and sold it to Ram at 10% profit. Then Ram wanted to sell it back to Gopal at 10% lo

Question

Gopal bought a cell phone and sold it to Ram at 10% profit. Then Ram wanted to sell it back to Gopal at 10% loss. What will be Gopal's position if he agreed?

Accepted Answer

To understand this problem, let us assume the initial price Gopal paid for the cell phone was 100 rupees.

Step 1: Gopal sells it to Ram at a 10 percent profit. Ram pays Gopal 110 rupees. Gopal now has 110 rupees in cash.

Step 2: Ram wants to sell it back to Gopal at a 10 percent loss. Ram bought it for 110 rupees, and 10 percent of 110 is 11 rupees. So, Ram sells it back for 110 minus 11, which is 99 rupees.

Step 3: Gopal pays 99 rupees to get his phone back. Since Gopal had 110 rupees from the first sale and spent only 99 rupees to buy it back, he is left with 11 rupees.

Step 4: Gopal now has the original phone plus 11 rupees. Since he started with 100 rupees and now has the phone plus 11 rupees, and the phone's value was 100, his net gain is 1 rupee on his original 100 rupees. This is a 1 percent gain.

Therefore, the correct option is C.

Answer

Neither loss nor gain

Answer

Loss 1%

Answer

Gain 1%

Answer

Gain 0.5%

Gopal bought a cell phone and sold it to Ram at 10% profit. Then Ram wanted to sell it back to Gopal at 10% loss. What will be Gopal's position if he agreed?

Explanation

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