A trader sells two articles at the same selling price. On one, he makes 10% profit, on the other, he incurs 10% loss. What is his overall profit or loss on the entire transaction?
Show answer & explanation
Correct answer: A
Explanation
Profit on the first item = 10%
Loss on the second item = 10%
The selling price of both is the same.
(When Profit% = Loss%)
Loss% = (10²) / 100 = 1%