1952 AHSME Problem 14

A house and store were sold for \$12,000 each. The house was sold at a loss of 20\% of the cost, and the store at a gain of 20\% of the cost. The entire transaction resulted in:

\textbf{(A) \ }\text{no loss or gain} \qquad \textbf{(B) \ }\text{loss of }\$1000 \qquad \textbf{(C) \ }\text{gain of }\$1000 \qquad \textbf{(D) \ }\text{gain of }\$2000 \qquad \textbf{(E) \ }\text{none of these}

Full credit goes to MAA for authoring these problems. These problems were taken on the AOPS website.