Given: C.P. of defective briefcase =Rs 800
and loss =8%.
S.P.=C.P×(1−loss%100)
=Rs 800×(1−8100)
=Rs 800×92100
=Rs 736
Given that price is further reduced by 5%.
Reduced price =Rs 736×(1−5100)
=Rs 736×95100
=Rs 699.20
Hence, the selling price of the briefcase is Rs 699.20 .