A trader buys two articles for Rs. 3000 each article. While selling, he earns a profit of 10 percent on one and loses 20 percent on the other. What will be his overall loss percentage?
Answer & explanation
Correct answer: option 4
Profit = 10%
Loss = 20%
Let,
CP SP
1st 10 11
2nd 10 8
————————————
20 19
Loss = 20 - 19 = 1
Loss% = \(\frac{1 × 100}{20}\) = 5%