A shopkeeper sells two refrigerator sets at the same price. He gains 40% on one refrigerator and loses 40% on the other. What is his net loss percentage in the whole transaction?
Answer & explanation
Correct answer: option 4
If the selling price of the articles is same and profit and loss percentage is given then the total loss percentage is given by = x - y - \(\frac{x × y}{100}\)
= 40 - 40 - \(\frac{40 × 40}{100}\) = 16%
Note = There will always be a loss in such cases.