Mr. Mittal purchased a car for ₹ 3,00,000 and a bike for his son for₹ 1,00,000. He sold the car at a profit of `10%` and bike at a loss of `20%`. What is the net gain or loss?

Options

A. `2%` gain
B. `1.5%` loss
C. `2.5%` loss
D. `2.5%` gain

Answer

To solve the problem step by step, we will calculate the profit from the car and the loss from the bike, and then find the net gain or loss.

### Step 1: Calculate the Selling Price of the Car
- **Cost Price of the Car (CP)** = ₹3,00,000
- **Profit Percentage** = 10%

To find the profit in rupees:
\[ \text{Profit} = \text{CP} \times \frac{\text{Profit Percentage}}{100} = 3,00,000 \times \frac{10}{100} = 30,000 \]

Now, calculate the Selling Price (SP) of the car:
\[ \text{SP of Car} = \text{CP} + \text{Profit} = 3,00,000 + 30,000 = 3,30,000 \]

### Step 2: Calculate the Selling Price of the Bike
- **Cost Price of the Bike (CP)** = ₹1,00,000
- **Loss Percentage** = 20%

To find the loss in rupees:
\[ \text{Loss} = \text{CP} \times \frac{\text{Loss Percentage}}{100} = 1,00,000 \times \frac{20}{100} = 20,000 \]

Now, calculate the Selling Price (SP) of the bike:
\[ \text{SP of Bike} = \text{CP} - \text{Loss} = 1,00,000 - 20,000 = 80,000 \]

### Step 3: Calculate the Total Selling Price
Now, we will find the total Selling Price from both the car and the bike:
\[ \text{Total SP} = \text{SP of Car} + \text{SP of Bike} = 3,30,000 + 80,000 = 4,10,000 \]

### Step 4: Calculate the Total Cost Price
Now, we will find the total Cost Price:
\[ \text{Total CP} = \text{CP of Car} + \text{CP of Bike} = 3,00,000 + 1,00,000 = 4,00,000 \]

### Step 5: Calculate the Net Gain or Loss
Finally, we will find the net gain or loss:
\[ \text{Net Gain or Loss} = \text{Total SP} - \text{Total CP} = 4,10,000 - 4,00,000 = 10,000 \]

Since the result is positive, it indicates a net gain.
\[ \text{Net Gain} = ₹10,000 \]

### Summary of the Solution
Mr. Mittal made a net gain of ₹10,000 after selling the car and the bike.

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