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      Question

      An item was sold at Rs. 5000 making a 10% gain. If it had

      been sold at Rs. 4200, determine the approximate profit or loss percentage.
      A 50% loss Correct Answer Incorrect Answer
      B 32% profit Correct Answer Incorrect Answer
      C 70% profit Correct Answer Incorrect Answer
      D 8% loss Correct Answer Incorrect Answer

      Solution

      ATQ,

      Cost price = 5000 / 1.1 = Rs. 4545.45

      Loss = 4545.45 – 4200 = Rs. 345.45

      Loss percentage = (345.45 / 4545.45) Γ— 100 β‰ˆ 7.6% loss

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