A trader sells two articles at ₹960 each. On one, he gains 20%, and on the other, he loses 20%. What is his overall profit or loss percentage?
Show answer & explanation
Correct answer: B
Explanation
Selling price of both items = ₹960 per item
Profit on the first item = 20%
Loss on the second item = 20%
First item
960 = CP × 1.20
CP = 960 / 1.20
CP = 800
Second item
960 = CP × 0.80
CP = 960 / 0.80
CP = 1200
Total Cost price = 800 + 1200 = 2000
Total selling price = 960 + 960 = 1920
Total loss = 2000 − 1920 = 80
Loss percentage = (80 / 2000) × 100 = 4%