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Question
Tell what is the profit or loss in the following transaction. Also find profit percent or loss percent in given case.
A skirt bought for ₹ 250 and sold at ₹ 150.
Solution
Cost price = ₹ 250
Selling price = ₹ 150
Loss = 250 − 150
= ₹ 100
Loss% = `"Loss"/"C.P." xx 100`
= `100/250 xx 100`
= 40%
Hence, loss = ₹ 100 and loss percentage = 40%.
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