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If the selling price of an article is Rs. 616, there is a profit of 12%. How much loss will there be if the article is sold at Rs. 462?
1. Rs. 64
2. Rs. 72
3. Rs. 46
4. Rs. 88

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Correct Answer - Option 4 : Rs. 88

Given:

The selling price of an article is = Rs. 616

Profit obtained = 12%

New SP of the article = Rs 462

Concept used:

Selling price = Cost price × (100 + P)%

Selling price = Cost price - loss

Calculation:

616 = Cost price × (100 + 12)/100

616 × 100/112 = Rs 550 = cost price

Loss = Cost price - Sellinf price

Loss = 550 - 462 = Rs 88.

∴ The will be a loss of Rs 88 if the article is sold at Rs 462.

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