Profit and loss

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Aalam sold two vehicles for ? 46000 each. If he gained 10% on the first and lost 10% on another, then what is his percentage profit or loss in this transaction ?

2% loss

1% profit

1% loss

Can't be determined

Explanation:

x + y + xy /100
Let's take x = 10 and y = –10
By the net% effect formula, we get
(10 - 10 - 10 x 10/100)% = –1%
∴ Loss = 1%

By: Amit Kumar

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