GATE 2024 ST – Question 7
General Aptitude · Quantitative Aptitude: Data Interpretation, Arithmetic and Number Computation · 2 marks · Multiple choice
Two items sell at the same price, one at 10% profit and the other at 10% loss. Find the overall result.
- 1% profit
- 2% profit
- 1% loss
- 2% loss
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Show answer and explanation
Correct answer: (C) 1% loss
Explanation
Let each selling price be s. Total cost=s/1.1+s/.9=200s/99, while total receipts=2s=198s/99. Loss fraction=(2s/99)/(200s/99)=1%. **C**.
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