A person sold two cars for ₹60,000 each. On one, he gained 20% while on the other, he lost 20%. Find the percentage of his gain or loss.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Loss 4%.
Given that
A person sold two cars for ₹60,000 each.
On one, he gained 20% while on the other, he lost 20%
As we know,
when the S.P of two things are same and one has x% profit and the other has the same as x% loss
He always gets overall loss = x2/100
Calculation
Overall loss = 202/100 = 400/100 = 4%