Two old cars are sold for Rs 48000 each. One is sold at a profit of 20 percent and the other at a loss of 20 percent. Find the net profit or loss percentage and the total amount of profit or loss.
A4% loss, Rs 4000 loss ✓ Correct
B4% profit, Rs 4000 profit
C5% loss, Rs 4000 loss
D2% profit, Rs 2000 profit
Correct answer: (A) 4% loss, Rs 4000 loss
Explanation
Net result is a 4% loss of Rs 4000.
CP of profit car = 48000 / 1.20 = 40000.
CP of loss car = 48000 / 0.80 = 60000.
Total CP = 100000, total SP = 96000.
Loss = 4000, loss% = 4000 / 100000 = 4%.
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