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A shopkeeper sold two mobiles in Rs 2400 each. In this sell he gets 20% profit on one but 20% loss on second mobile. What is his net profit or net loss?
1. Profit of Rs 200
2. Loss of Rs 200
3. No profit No loss
4. None of these

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Correct Answer - Option 2 : Loss of Rs 200

Given:

A shopkeeper sold two mobiles in Rs 2400 each.

The profit on one is 20%.

The loss on second is 20%

Formula Used:

Cost price = Selling price/(100 + Profit%) × 100

Cost price = Selling price/(100 - Loss%) × 100

Profit = Selling price - Cost price

Loss = Cost price - Selling price

Calculation:

The cost price of first one = 2400/120 × 100 = 2000

The cost price of second one = 2400/80 × 100 = 3000

Total cost price = 2000 + 3000 = 5000

Total selling price = 2400 + 2400 = 4800

Loss = 5000 - 4800 = 200

∴ The net loss is Rs.200.

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