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Question
By selling a book for ₹ 50, a shopkeeper suffers a loss of 10%. The cost price of the book is ₹ 60.
Options
True
False
Solution
This statement is False.
Explanation:
Given, S.P. = ₹ 50 and loss percent = 10%
We know that, Loss % = `"Loss"/"C.P." xx 100%`
⇒ Loss % = `("C.P." - "S.P.")/"C.P." xx 100` ......[∵ Loss = C.P. – S.P.]
⇒ 10 = `(("C.P." - 50))/"C.P." xx 100`
⇒ 10C.P. = 100C.P. – 5000
⇒ 90C.P. = 5000
⇒ C.P. = `5000/90`
∴ C.P. = ₹ 55.55
Hence, the cost price of the book is ₹ 55.55
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