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Question
The selling price of a sofa-set is `4/5` times of its cost price. Find the gain or the loss as a percent.
Solution
Let the cost price (C.P.) =1
S.P. =`1xx4/5=4/5`
∴ Loss =`1-4/5=(5-4)/5=1/5` ....[∵ loss = C.P. − S.P.]
Loss%`="Loss"/"C.P."=(1/5)/1xx100=1/5xx100=20%`
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