A dealer buys an article marked at ₹ 40000 with 20% and 10% off. He spends ₹ 1200 on its repairs and sells it for ₹ 30000. What is his gain or loss per cent?

10% gain
10% loss
No gain no loss
None of these

Correct Answer: No gain no loss

Explanation:

CP. = (80% of 90% of ₹40000) + ₹(1200)
= [(80/100) x (90/100) x 40000] + 1200
= (28800 + 1200)
= ₹30000
∴ CP = ₹30000
So, no gain no loss in the transaction.

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