Word Problem 12 (Profit and loss on selling two items)
Problem 12: A man sells two horses at the same prices. On one he makes a profit of 10 % and on the other he suffers a loss of 10 %. Which one of the following is true?
a. He makes no profit , no loss
b. He makes a profit of 1%
c. He suffers a loss of 1%
d. He suffers a loss of 2%
(GRE arithmetic questions and answers)
This problem is typical and for solving such problems we should keep in mind that in cases where selling prices are same and percentage of profit and loss is is also given same – there will ALWAYS be a loss on the whole transaction.
The percentage of that loss is calculated by the formula;
So there will be an overall loss of 1 %
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