Profit & Loss (Team Food)

Question:
A retailer buys a camera for $$x$.
He trys to sell it at a profit of $20\%$.
However, he could not sell it.
During the Great Singapore Sale (GSS), he finally managed to sell the camera, but at a $20\%$ discount.

Will he make a profit, incur a loss or break even and by what percentage?
Explain how you arrive at your answer.


Extension:
A retailer buys a camera for $$x$.
He trys to sell it at a profit of $y\%$.
However, he could not sell it.
During the Great Singapore Sale (GSS), he finally managed to sell the camera, but at a $y\%$ discount.

Will he make a profit, incur a loss or break even and by what percentage?
Explain how you arrive at your answer.