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A man sold 2 watches, one at a profit of 10% and the other [#permalink]
23 Aug 2004, 16:18

A man sold 2 watches, one at a profit of 10% and the other at a lost of 10%. If the selling prices of both were the same, how much percent did he gain or loose on the whole?

Cool. I actually assumed the selling price as x and solved from there. But I am quickly finding out that substituting numbers can really speed up the calculations.

the guest was me....sorry i forget to login always..

Incidcentally, there is a better shortcut to approach such problems..
If two articles are sold at the same price (same SP, S), one at a profit of p% and another at a loss of p%, the NET LOSS is given by (p^2/100)%.,

The amount of of net loss = (2.p^2.S)/(100^2-p^2). If you can remember these two formulae, you can gain more time.