A man sells two articles for 2620 each, one at a profit of 24% and the other at a loss of 24%. What is his loss/profit per cent in the whole transaction?
Answer & explanation
Correct answer: option 3
Loss and the profit = 24%
In this type of questions when the profit and the loss percentage is x% and the selling price of the article is also same then the customer always bears loss and is given by = \(\frac{x × x}{100}\)
Loss% = \(\frac{24 × 24}{100}\) = Loss, 5.76%