The profit made on an item sold for ₹2400 is equal to the loss incurred when it is sold for ₹2000. What will be the profit or loss percentage if the item is sold for ₹2200?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. No profit; No loss.
Let the cost price of the item be CP.
Given, 2400 - CP = CP - 2000
⇒ 2CP = 4400
⇒ CP = 2200
Now, SP = CP
Hence no profit; no loss.