Two articles were sold of ₹2400 each by a shopkeeper. The shopkeeper incurred no profit and no loss on the whole transaction. If one of the two articles sold at a profit of 20%, then what was the loss incurred on the other article?
Answer & explanation
Correct answer: option 2
Total selling price = 4800
So, the total cost price of the two articles is also Rs. 4800 due to no loss and no gain
Now, according to question
x × 120% = 2400
100 % of x = 2000
So, 2000 + y = 4800
y = 2800
Now, the loss occurred on second article = 2800 – 2400 = 400