Profit and Loss Practice Test 5

Question : 39 of 40

Marks: +1, -0

By selling a chair for Rs. 770, a carpenter gained 10% on it. Had he sold it for Rs. 707, what would have been his gain or loss per cent?

Solution:

Here, Rs. 770 = 110% = Rs. 707 =

110/770 × 707

= 101%
Hence, gain% = 101 – 100 = 1%

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