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.Solution
ATQ,
Cost price = 5000 / 1.1 = Rs. 4545.45
Loss = 4545.45 – 4200 = Rs. 345.45
Loss percentage = (345.45 / 4545.45) × 100 ≈ 7.6% loss
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