Question

15 A man bought two articles each at Rs 840 and sold
one at 20% profit and another at 20% loss, What was
the overall profit or loss percentage?
(1) 10% profit (2) 20% profit
(3) 20% loss
(4) None of these​

Answer 1

Answer:

the answer is 20% loss

Answer 2

Answer:

I am just providing the shortcut to be used in competitive exams for saving time.

Shortcut to these type of questions

When a person sells two similar items, one at a gain of say “x%”, and the other at a loss of “x%”, then the seller always incurrs a loss.

Loss%= (x/10)^2 %

Here x is common gain or loss percent

Coming to the question

Common gain or loss% = 10%

Using the formula:-

Loss%= (10/10)^2 % = 1%

Thus after transaction the seller will incurr loss of 1%.

Hopefully it helps.