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An article bought for Rs. 800 is sold for Rs. 720. Find the loss percentage.
  1. 5%
  2. 8%
  3. 10%
  4. 12%
Explanation

Solution

Cost Price (CP) = Rs. 800

Selling Price (SP) = Rs. 720

Loss = CP − SP

= 800 − 720 = Rs. 80

Loss % = (Loss ÷ CP) × 100

= (80 ÷ 800) × 100

= 10%

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