Question : A dealer sold two types of goods for Rs. 10000 each. On one of them, he lost 20% and on the other, he gained 20%. His gain or loss per cent in the entire transaction was:
Option 1: 2% loss
Option 2: 2% gain
Option 3: 4% gain
Option 4: 4% loss
Correct Answer: 4% loss
Solution :
If two articles were sold at the same price, on one article there is a profit of $x$% and on the other, there is a loss of $x$%, then there will be a loss of $\frac{x^2}{100}$%.
So, loss % = $\frac{20^2}{100}$% = 4%
Hence, the correct answer is '4% loss'.
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