A tradesman marks his goods 10% above his cost price. If he allows his customers 10% discount on the marked price, how much profit or loss does he make, if any?
A)1% gain
B)1% loss
C)5% gain
D)No gain, no loss
Correct Answer:
B
Solution :
Required loss \[=\left( \frac{10\times 10}{100} \right)%=1%\]