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Question
A man purchased a bicycle for Rs 1,040 and sold it for Rs 800. His gain per cent is 30%.
Options
True
False
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Solution
This statement is False.
Explanation:
Cost price of the bicycle = Rs. 1040
Selling price of the bicycle = Rs. 800
Loss = Cost price – Selling price
= Rs. 1040 – Rs. 800
= Rs. 240
Hence, Loss % = `"Loss"/"Cost price" xx 100`
= `240/1040 xx 100`
= `2400/104`
= 23.07%
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