Question

If Sohan, while selling two goats at the same price, makes a profit of 10% on one goat and suffers a loss of 10% on the other.
1. he makes no profit and no loss.
2. he makes a profit of 1%
3. he suffers a loss of 1%
4. he suffers a loss of 2%

Answer 1

Correct Answer - Option 3 : he suffers a loss of 1%

Given:

The selling price of two goats equal to each other

Profit = 10%

Loss = 10%

Formula Used:

Profit % = {(S.P - C.P)/C.P} × 100

Loss % = {(C.P - S.P)/C.P} × 100

Where,

C.P = Cost Price

S.P = Selling Price

Calculation:

Let the SP of each goat = 100

⇒ Total SP = 200

According to the Question, we have

CP of first goat is

CP × (110/100) = 100

CP = (1000/11)

CP of second goat is

CP × (90/100) = 100

⇒ CP = (1000/9)

Total CP = (1000/11) + (1000/9)

⇒ (20000/99) 

Here, C.P > S.P

So, Loss% = {(C.P - S.P)/C.P} × 100

⇒ loss% = [{(20000/99) - 200}/(20000/99)] × 100%

⇒ loss% = [(200/99)/(20000/99)] × 100%

∴ loss% = 1%