Multiple choice

A person sells two items, each at Rs. 990, one at a profit of 10% and another at a loss of 10%. What is the combined percentage of profit or loss for the two items?

  1. 1% loss

  2. 1% profit

  3. No profit, no loss

  4. 0.5% profit
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A Correct answer
Explanation

When two items are sold at the same price with equal percentage profit and loss, the overall result is always a loss calculated by (x^2)/100. Here, (10^2)/100 = 1% loss.

AI explanation

When two items are sold at the same price, incurring a profit of x% on one and a loss of x% on the other, the net result is always a loss given by the formula: net loss percentage = (x^2 / 100)%. Using the given profit and loss values of 10%, the calculation is (10 * 10) / 100 = 1. Therefore, the combined transaction results in a 1% loss.

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