Question : A trader sells two LED sets at the same price. There is a gain of 20 % on one LED and a 20 % loss on the second LED. Which of the following statements is true?
Option 1: The trader makes a profit of 4%.
Option 2: The trader makes a profit of 2%.
Option 3: The trader makes no profit or no loss.
Option 4: The trader makes a loss of 4%.
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Correct Answer: The trader makes a loss of 4%.
Solution : If two articles were sold at an equal price at a profit of $x$% and loss of $x$% respectively. Then there will be a loss of $\frac{x^2}{100}$% always. So, in this case, there will be a loss of $\frac{20×20}{100}$% = 4% loss. Hence, the correct answer is 'The trader makes a loss of 4%'.
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