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Question
By selling a cupboard for Rs.6480, a merchant loses 10%. Calculate his loss if he sells it for Rs.7560.
Solution
S.P. of the cupboard = Rs.6480
Loss = 10%
Now,
`"S.P."/"C.P." = 1 - "Loss"/(100)`
⇒ `(6480)/"C.P." = 1 - (10)/(100)`
⇒ `(6480)/"C.P." = (100 - 10)/(100)`
⇒ C.P. = `(100)/(90) xx 6480`
= Rs.7200
Now,
C.P. of the cupboard = Rs.7200
S.P. of the cupboard = Rs.7560
∵ S.P. > C.P.
∴ Gain
= S.P. - C.P.
= Rs.(7560 - 7200)
= Rs.360
∴ Gain %
= `"gain"/"C.P." xx 100`
= `(360)/(7200) xx 100`
= 5%
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