A man buys an article for 10% less than its value and sells it for 10% more than its value. His gain or loss percent is:________?
A. no profit, no loss
B. 20% profit
C. less than 20% profit
D. more than 20% profit
Explanation:
Let the article be worth Rs. x.
C.P. 90% of Rs. x = Rs. 9x/10
S.P. = 110% of Rs. x = Rs. 11x/10
Gain = (11x/10 – 9x/10) = Rs. x/5
Gain % = x/5 * 10/9x * 100 = 22 2/9 % > 20%