A shopkeeper sold two mobiles in Rs 2400 each. In this sell he gets 20% profit on one but 20% loss on second mobile. What is his net profit or net loss?

Correct Answer: (B) Loss of Rs 200

When two items are sold at the same selling price with equal percentage of profit and loss (x%), there is always a net loss given by the formula $\frac{x^2}{100}$%. Here, with x = 20%, the net loss percentage is $\frac{20^2}{100}$ = 4%. Total selling price = 2400 + 2400 = Rs 4800, total cost price = $\frac{2400}{1.2}$ + $\frac{2400}{0.8}$ = 2000 + 3000 = Rs 5000, resulting in a net loss of Rs 200.