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A seller sells a book for Rs. 24 and loses 20% of the cost. What would be the profit or loss if he sells for Rs. 27? 1. Loss Rs. 12. Profit Rs. 43. Loss Rs. 3 4. Profit Rs. 6 |
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Answer» Correct Answer - Option 3 : Loss Rs. 3 Given: The selling price of a book = Rs. 24 Loss = 20% of the price of a book New selling price of a book = Rs. 27 Formula used: Gain or loss percent = (Loss or gain/Cost price) × 100 Concept used: Profit = Selling Price – Cost Price Loss = Cost Price – Selling Price Calculation: Let the cost price of a book is Rs.x Loss = 20% of the price of a book Loss = 20% of x = x/5 selling price of a book = x - x/5 = 4/5x According to question ⇒ 4/5x = Rs. 24 ⇒ x = Rs. 30 New selling price of a book = Rs. 27 ∴ Loss = 30 -27 = Rs. 3 |
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