A tradesman marked his goods 10% above his cost price. If he allows his customer 10% discount on the marked price. How much profit of loss does he make, if any?
A)1%, gain
B)1%, loss
C)5%, gain
D)No gain no loss
Correct Answer:
B
Solution :
There is a loss in such transaction which is \[\frac{10\times 10}{100}%=1%\]