The GATE Grind

GATE 2024 CS (CS2) – Question 7

General Aptitude · Quantitative Aptitude: Arithmetic and Number Computation · 2 marks · Multiple choice

A person sold two different items at the same price. He made 10% profit in one item, and 10% loss in the other item. In selling these two items, the person made a total of

  1. 1% profit
  2. 2% profit
  3. 1% loss
  4. 2% loss

Practise this question in The GATE Grind →

Show answer and explanation

Correct answer: (C) 1% loss

Explanation

Selling price S each: cost1 = S/1.1, cost2 = S/0.9. Total cost = S(1/1.1+1/0.9) ≈ 2.0202S vs revenue 2S, a loss of about 1%.