A dealer buys an article marked at ₹ 40000 with 20%

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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 ?

1. 10% gain
2. 10% loss
3. No gain no loss
4. None of these

Correct Option: C

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.