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Question : Mihir buys a book for INR 625. However, because of a certain urgency, he sells it for INR 550. Find his loss percentage.

Option 1: 12%

Option 2: 14%

Option 3: 10%

Option 4: 15%


Team Careers360 11th Jan, 2024
Answer (1)
Team Careers360 13th Jan, 2024

Correct Answer: 12%


Solution : We know, Loss percentage = $\frac{\text{Cost price−Selling price​}}{\text{Cost price}}×100$
Given,
Cost price = INR 625 and selling price = INR 550
$\therefore$ Loss percentage = $\frac{625−550​}{625}×100=\frac{75}{625}×100=12\%$
Hence, the correct answer is 12%.

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