Question

ITC sells one product at a profit of 30% another at a loss of 30% at the same selling price.What is the loss incurred by ITC? A. 1% B. 2% C. 4% D. 0%​

Answer 1

D. 0%

Explanation:

The percentage of profit at which one of the products are sold = 30%

The percentage loss at which the other product are sold = 30%

Let x represent the prices of each of the products, we have;

The profit from the sale of the first product = 30% of x = 0.3·x

The loss from the sale of the second product = -30% of x = -0.3·x

The total gain or loss = Profit + Loss = 0.3·x + (- 0.3·x) = 0

Therefore, there is no net loss

The total loss incurred = 0%.