Ranjeet purchased an item for Rs.3500 and sold it at the loss of 25%. From that amount he purchased another item and sold it at the gain of 20%. What is his overall gain/loss? Choose the correct choice from the following choices:
A) Loss of Rs.240	B) Gain of Rs.120	C) Loss of Rs.350	D) Neither gain nor loss	E) None of these
Explanation:   1st SP = Rs.3500 – 25% of 3500 = Rs.3500 – 875 = Rs.2625.   (24% = ¼)   2nd SP = Rs.2625 + 20% of 2625 = Rs.2625 + 525 = Rs.3150.   :. Overall loss = Rs.3500 – Rs.3150 = Rs.350.   Answer: Option Loss of Rs.350
<result>C</result>
Ranjeet purchased an item for Rs.3500 and sold it at the loss of 25%. From that amount he purchased another item and sold it at the gain of 20%. What is his overall gain/loss?