A man sells two items for the same price of $100 each. On one item, he makes a profit of 20%, and on the other, he incurs a loss of 20%. What is his overall profit or loss percentage?
Q1. A man sells two items for the same price of $100 each. On one item, he makes a profit of 20%, and on the other, he incurs a loss of 20%. What is his overall profit or loss percentage?
Answer: 4% loss
Explanation: Selling at $100 each: CP₁ = 100/1.2 = 83.33, CP₂ = 100/0.8 = 125. Total CP = 208.33, total SP = 200. Loss = 8.33/208.33 × 100 ≈ 4%.