A. $84 loss B.$42 loss
C. $0 loss/gain D.$42 gain
E. $84 gain Answer: A Explanation: Here easily students will fall for the trap of Neither Loss Nor profit. Remember that, it is given that A man sold two cars at$1000 each.
So, its selling Price = 1000 dollars each

Let “x” be the cost price of an item which made a profit of 20 percent.
Then,
x + 20% of x = 1000
1.2 x = 1000
x = 833.33

Let “y” be the cost price of an item which made a loss of 20 percent.
Then,
y – 20% of y = 1000
0.8 y = 1000
y = 1250

So, the total cost price of both the items = x + y = 833.33 + 1250 = 2083.33
Overall Loss = C.P – S.P = 2083.33 – 2000 = 83.33 ~ 84