Profit and Loss Practice Test 7

Question : 31 of 40

Marks: +1, -0

If a person reduces the selling price of a fan from Rs. 400 to Rs. 380, his loss increases by 2%. What will be his cost price?

Solution:

Here, 2% = 20
∴ 100% =

20/ 2 ×100

= Rs. 1000
Hence, C.P. = Rs. 1000

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