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    Question

    If a shopkeeper hikes the purchasing value of an item by

    42% and holds a price of 42% on its sale, then know the total percentage gain or loss it will have?
    A Profit of 16.64% Correct Answer Incorrect Answer
    B Loss of 16.64% Correct Answer Incorrect Answer
    C Loss of 17.64% Correct Answer Incorrect Answer
    D 17.64% profit Correct Answer Incorrect Answer

    Solution

    Let the cost price of the item be 100. MP of the item = 100x × 142/100 = Rs. 142x SP of the times = 142x × 58/100 = 82.36x Loss % = [(100x-82.36x)/100x] x 100 = 17.64%

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