Question : Mohit purchased a table for Rs. 1,260 and due to some scratches on its top, he sold it for Rs. 1,197. What is his loss percentage?
Option 1: 7%
Option 2: 4%
Option 3: 6%
Option 4: 5%
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Correct Answer: 5%
Solution :
Cost price = Rs. 1,260
Selling price = Rs. 1,197
Loss = 1260 – 1197 = Rs. 63
So, the loss percentage = $\frac{63}{1260}×100$ = 5%
Hence, the correct answer is 5%.
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