A man sold two chairs at Rs. 1,200 each. On one he gained 20% and on the other he lost 20%. His gain or loss in the whole transaction is:
Choose the correct choice from the following answers: A) 1% loss B) 2% loss C) 4% loss D) 15 gain E) NOne
Solution: In the case where loss and gain percentage is common on same selling price, always a loss incurs in total deal. And this can be calculated by a short-cut:   Loss on total deal,   = (Common loss or gain percentage /10)2 = (20/10)2   = 4%   Alternatively, It can be also calculated through Graphic Change Method: This can be given by,   100==20% gain ==&gt;120==20% loss==&gt;96.   Loss = 4% (As 100 became 96).   Answer: Option 4% loss
<result>C</result>
A man sold two chairs at Rs. 1,200 each. On one he gained 20% and on the other he lost 20%. His gain or loss in the whole transaction is: