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0 votes
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in Commercial Mathematics by (49.3k points)
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State whether the statement are True or False.

If a bicycle was bought for Rs 650 and sold for Rs 585, then the percentage of profit is 10%.

1 Answer

+1 vote
by (48.6k points)
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Best answer

False

Given, CP = ₹650 and SP = ₹585

Since, CP > SP

Loss = CP - SP 

= 650 - 585 

= ₹65

Now,

Loss% = Loss/CP x 100 

= 65/650 x 100 

= 10%

Hence, the percentage of loss is 10%.

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