A shopkeeper sells two articles at the same selling price. He gains 10% on one and loses 10% on the other. What is the overall result on the two transactions together?
A1% profit
B1% loss
CNo profit, no loss
D2% loss
Answer & Solution
Correct answer: B. 1% loss
When two articles are sold at the same selling price with equal percentage gain and loss, the net result is always a loss. The loss percentage is $\left(\frac{10}{10}\right)^2=1\%$. So the combined transaction results in a 1% loss.
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