Selling price of a house and a shop is equal and that is ₹ 1 Lakh each. The shop is sold at 20% profit and the house is sold at 20% loss. Find amount of profit or loss during the whole transaction.

\(\frac{1}{12}\) lakh

CP of 1st shop = 1 lakh × \(\frac{100}{120}\) = \(\frac{5}{6}\) lakh

CP of 11nd shop = 1 lakh × \(\frac{100}{80}\) = \(\frac{5}{4}\) lakh 

        total CP = \(\frac{5}{6}\) + \(\frac{5}{4}\) = \(\frac{10+15}{12}\)

                    = \(\frac{25}{12}\) lakh

Profit or loss = 2 - \(\frac{25}{12}\) = - \(\frac{1}{12}\) lakh (loss)