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Question
A man bought some pencils for Rs 30 and some pens for Rs 90. The next day, he again bought some pencils for Rs 25. Then, he sold all the pencils for Rs 20 and the pens for Rs 70. What was his net gain or loss?
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Solution
Total cost price = Price of pencils + Price of pens
= 30 + 90 + 25
= Rs 145
Total amount sold = Price of pen + Price of pencils
= 20 + 70
= 90
Selling price - costing price = 90 - 145
= -55
The negative sign implies loss.
Hence, his net loss was Rs 55.
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