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If Mobeen 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, he

Correct answer: C. Suffers a loss of 1%

  • A. Makes no profit and no loss
  • B. Makes a profit of 1%
  • C. Suffers a loss of 1%
  • D. Suffers a loss of 2%

Explanation

Take the selling price of each goat as Rs. 100. The cost prices are Rs. 100 ÷ 1.10 = Rs. 90.91 and Rs. 100 ÷ 0.90 = Rs. 111.11, so total cost is Rs. 202.02 against total selling price Rs. 200, a loss of about 1%. The common mistake is choosing option a by cancelling the equal 10% profit and loss, although the percentages apply to different cost prices.

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About Profit and Loss

Profit and loss compare the cost price and selling price of an item, using profit or loss percentages based on the cost price unless stated otherwise. Questions include marked price, discount, successive discounts, commission, and finding an unknown price, with care needed to distinguish discount from loss.

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