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Question

Fill in the blanks to make the statement true:

Nasim bought a pen for 60 and sold it for 54.

His ______ % is ______.


A

Loss

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B

10

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Solution

Evaluate Profit or Loss

Given, Cost Price (CP) of the pen =60

and, Sale Price (SP) of the pen =54

As cost price is greater than sale price, thus, Nasim makes a “Loss” on sale of pen.

We know that, Loss=CostPrice-SalePrice

L=CP-SPL=60-54L=6

Now, we evaluate the loss percentage using the formula, Loss%=LossCP×100

L%=660×100L%=10%

Therefore, Nasim makes a 10% loss on sale of the pen.


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