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      Question

      A person buys 2 items for ₹300 each. He sells one at a

      profit of 10% and the other at a loss of 10%. What is the overall gain or loss percentage?
      A No profit, no loss Correct Answer Incorrect Answer
      B 1% gain Correct Answer Incorrect Answer
      C 1% loss Correct Answer Incorrect Answer
      D 2% loss Correct Answer Incorrect Answer

      Solution

      Profit on the first item = 10% of ₹300 = ₹30, Selling price of the first item = ₹300 + ₹30 = ₹330. Loss on the second item = 10% of ₹300 = ₹30, Selling price of the second item = ₹300 - ₹30 = ₹270. Total selling price = ₹330 + ₹270 = ₹600. Total cost price = ₹300 + ₹300 = ₹600. No overall profit or loss. Answer: a) No profit, no loss.

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