I sold two watches for Rs. 300 each, one at a 10% loss and the other at a 10% profit. What is my total loss percentage? MCQ with Answer and Explanation
I sold two watches for Rs. 300 each, one at a 10% loss and the other at a 10% profit. What is my total loss percentage?
A. 3%
B. 4%
C. 1%
D. 2%
Answer: Option C
Solution (By JKSSB Mock Tests)
When two items are sold at the same price, one at x% profit and the other at x% loss, the overall transaction results in a loss of (x^2)/100 %. Loss % = (10*10)/100 = 1%.
The profit earned by selling an article for Rs. 1630 is the same as the loss incurred by selling it for Rs. 1320. At what price should it be sold to earn a 20% profit?
No comments yet. Be the first to start the discussion!