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Ravi bought an old sofa for Rs. 6500 and spent Rs. 1200 on its renovation. For some reason he had to sell it at a loss of 17%. At what price did he sold the sofa?
1. Rs. 6801
2. Rs. 6931
3. Rs. 6391
4. Rs. 6751

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Correct Answer - Option 3 : Rs. 6391

Given:

Total cost price of sofa = Rs. 6500 + Rs. 1200

= Rs. 7700

Loss % = 17%

Formula used:

When an article is sold at a loss;

Then SP = [(100 - Loss %)/100] × CP

Calculation:

SP of the article = [(100 - 17)/100] × 7700

= (83/100) × 7700

= Rs. 6391

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