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Question
Using the figures given below, frame problems based on profit percent or loss percent.
Cost price ₹ 2000, selling price ₹ 1900
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Solution
Problem: Avinash bought a mobile phone for Rs 2000 and sold the same for Rs 1900. Find his loss percent.
Cost price of mobile phone = Rs 2000
Selling price of mobile phone = Rs 1900
Since selling price is less than cost price, so there is a loss.
Loss = Cost Price − Selling price
= 2000 − 1900
= Rs 100
Let x % be the loss suffered by Avinash. Then,
`"x"/100 = "loss"/"cost price" = 100/2000`
`=> "x"/100 xx 100 = 100/2000 xx 100`
⇒ x = 5
∴ Avinash suffered a loss of 5% in this transaction.
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