Select the correct answerA shopkeeper sold two articles for ₹9,471 each. On one, he gained 23% and on the other, he lost 23%. What is the overall percentage gain or loss?Options6.29% gain5.29% loss5.29% gain6.29% loss
Question
Select the correct answerA shopkeeper sold two articles for ₹9,471 each. On one, he gained 23% and on the other, he lost 23%. What is the overall percentage gain or loss?Options6.29% gain5.29% loss5.29% gain6.29% loss
Solution
To solve this problem, we need to understand that when two items are sold at the same price, one at a gain of x% and the other at a loss of x%, the seller always incurs a loss. This loss is given by the formula (x/10)^2 %.
Here, x is 23.
So, the loss is (23/10)^2 % = 5.29%
Therefore, the correct answer is "5.29% loss".
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