Profit and Loss Question & Answers
A dealer sold two of his cattle for Rs. 500 each. On one of them he lost 10% on the other, he gained 10%. His gain or loss percent in the entire transaction was:
|A) 10% loss||B) 1% loss|
|C) 1% gain||D) Neither loss nor profit|
Answer: B) 1% loss
Loss%= (common gain or loss % / 10)2 = (10/10)² % = 1%.
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