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Question
In case of gain, S.P. = `((100 + "gain"%) xx "C.P.")/100`.
Options
True
False
Solution
This statement is True.
Explanation:
We know that,
Gain = Selling price – Cost price
∴ Gain % = `"Gain"/"Cost price" xx 100`
∴ Selling price = `(100 + "Gain"%)/100 xx "Cost price"`
Notes
Gain or loss is always calculated on cost price.
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