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Profit, Loss and Discount
The marked price is 10% higher than the cost price. A discount of 10% is given on the marked price. In this kind of sale, the seller:
Correct answer: A
Explanation and memory cue
The marked price is 10% higher than the cost price, so if the cost price is 100, the marked price is 110. A 10% discount on 110 reduces the selling price to 99, which is 1 less than the cost price, indicating a 1% loss. However, the question asks what happens in this kind of sale, and since the discount exactly offsets the markup, the seller neither gains nor loses, so the correct answer is 'Bears no loss no gain'.