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Akbar, sold his old gun Rs. 900, which he was bought for Rs. 2500. What is his % loss?
  1. 64%
  2. 62%
  3. 66%
  4. 60%
Explanation

The CP of the gun = Rs. 2500

The SP of the gun = Rs. 900

The loss is = CP - SP = Rs. ( 2500 - 900 )

= Rs. 1600

Hence, the loss incurred by Akbar is 64%.

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