Two articles are bought at the same price. One is sold at 20% profit and the other is sold at 10% loss. The overall profit/loss percentage is:
Answer & explanation
Correct answer: option 2
Let the cost price of two article = 100 for each
There is a profit 20% on first so ,
The selling price of the first = 120% of 100 = 120
and 10% loss on second
Then the selling prices of second article is = 90% of 100 = 90
Total CP : Total SP = 200 : 210
Profit% = ( 210 - 200 ) × \(\frac{100}{200}\) = 5%