Amit bought an article for ₹310 and sold it at a loss of 25 %. With this money, he bought another article and sold it at a gain of 40%. What was his overall gain or loss percent?

Amit bought an article for ₹310 and sold it at a loss of 25 %.

The selling price of the first article = 310 of (100-25)%

= 310 of 75%

= 232.5

Loss on the first article = 310-232.5 = 77.5

With this money, he bought another article and sold it at a gain of 40%.

The cost price of the second article = 232.5

The selling price of the second article = 232.5 of 140% = 325.5

Profit on the second article = 325.5-232.5 = 93

overall gain or loss percent = $$\frac{(232.5+325.5)-(310+232.5)}{310}\times 100$$

= $$\frac{(558-542.5)}{310}\times 100$$

= $$\frac{15.5}{310}\times 100$$

= 5% gain