A shopkeeper earns 20% profit on his goods. He lost 20% of his goods during a theft. What is his profit or loss percent?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 4% loss.
Given that
A shopkeeper earns 20% profit on his goods
He lost 20% of his goods during a theft,
According to the question
The net profit or loss percent = 20 - 20 - (20 × 20)/100 = - 4 %
Where, '- ' sign indicates the loss percent i.e. loss = 4 %