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The marked price is 10% higher than the cost price. A discount of 10% is given on the marked price. In this kind of sale, the seller?

Bears no loss, no gain
Gains
Losses 1%
None of these

Correct Answer: Losses 1%

Explanation:

Let the cost price be Rs. 100.
So market price = 100 + 10% of 100 = 110
Selling price = 110 - 10% of 110 = 99.
So, net loss = 1%

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