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Question
If a chair is bought for ₹ 2000 and is sold at a gain of 10%, then selling price of the chair is ₹ 2010.
Options
True
False
Solution
This statement is False.
Explanation:
Given, C.P. = ₹ 2000 and profit % = 10%
We know that, Profit % = `"Profit"/"C.P." xx 100%`
⇒ Profit % = `(S.P. - C.P.)/"C.P." xx 100%` ......[∵ Profit = S.P. – C.P.]
⇒ 10 = `(S.P. - 2000)/2000 xx 100%`
⇒ `(10 xx 2000)/100` = S.P. – 2000
⇒ 200 = S.P. – 2000
∴ S.P. = ₹ 22000
Hence, the S.P. of chair is ₹ 2200.
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