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Muhammad Aslam bought a TV for Rs. 8000 and sold it for Rs. 7000. How much loss did he incur?
  1. Rs.1000
  2. Rs.2000
  3. Rs.3000
  4. Rs.4000
Explanation

Given:

Cost Price (CP) = Rs. 8,000

Selling Price (SP) = Rs. 7,000

Loss = CP − SP

= 8,000 − 7,000

= Rs. 1,000

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