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A person selling 400 books at the cost price of 320 books. What is his percentage of loss is?1. 10%2. 15%3. 20%4. 25% |
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Answer» Correct Answer - Option 3 : 20% Given: Cost price of 320 books = Selling price of 400 books Formula Used: Loss% = {(C.P – S.P)/C.P} × 100 Calculation: Let C.P of 1 book = Rs. x C.P of 320 books = Rs. 320x S.P of 400 books = Rs. 320x C.P of 400 books = Rs. 400x Loss = Rs. (400x – 320x) = Rs. 80x Loss% = (80x/400x) × 100 = 20% ∴ Loss% is 20% |
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