1) A house and a shop were sold for Rs. 1 lakh each. In this transaction, the house sale-resulted into 20% loss whereas the shop sale resulted into 20% profit. The entire transaction resulted in : A) no loss, no gain B) loss of Rs. 112 lakh C) loss of Rs. 118 lakh D) gain of Rs. 124 lakh E) None of these Answer: Option BExplanation:Total S.P = Rs. 2 lakh. C.P of house = Rs. (10080×1) lakh = Rs. 54 lakh. C.P of shop = Rs. (100120×1) lakh = Rs. 56 lakh. Total C.P = Rs. (54+56) lakh = Rs. 2512 lakh. ∴ Loss = Rs. (2512−2) lakh = Rs. 112 lakh.