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John sold two digital cameras at $3,000 each. On one he gains 20% and on the other he loses 20%. What percent does he gain on the whole transaction?Solution:For the first digital camera:Gain = 20%.Let cost price (C.P.) = $100.Therefore, selling price (S.P.) = $(100 + 20) = $120.When selling price (S.P.) is $ 120, cost price (C.P.) is $100.Therefore, when selling price (S.P.) is $300, cost price (C.P.)= $100/120 × 300= $(100 × 300)/120= $30000/120= $2,500.Therefore, cost price (C.P.) of the first digital camera = $2,500.For the second digital camera:Loss = 20%Let cost price (C.P.) = $100.Therefore, selling price (S.P.) = $(100 - 20) = $80When selling price (S.P.) is $80, the cost price (C.P.) is $100.Therefore, when selling price (S.P.) is $300, the cost price (C.P.)= $100/80 × 300= $30000/80= $3,750.Therefore, cost price (C.P.) of the second digital camera = $3,750.Thus, total cost price (C.P.) of two digital cameras = $2,500 + $3,750 = $6,250Total selling price (S.P.) of two digital cameras = $(2 × 3,000) = $6,000.Thus, cost price (C.P.) > selling price (S.P.) so, there is a lossLoss = cost price (C.P.) - selling price (S.P.) = $6,250 - $6,000 = $250.Percentage loss = loss/cost price × 100 = 250/6250 × 100 = 25000/6250 = 4%Therefore, John loses 4% on the whole transaction

Solution:

Cost price includes the overhead expenses also.

Therefore, C.P. = $8,000 + $500 = $8,500

and S.P. = $9,500

Since, S.P. > C.P., there is a profit

Profit = S.P. - C.P.

= $9,500 - $8500

= $1,000

Profit percent = profit/(C.P.) × 100

= 1000/8500 × 100

= 200/17

= 11 13/17%