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If the cost price of 23 toys is equal to selling price of 20 toys. Then the gain or loss percentage is?

12
14
15
121/2

Correct Answer: 12

Explanation:

Here, a = 23, b = 20
∴ Required percentage profit = [(a - b)/b] x 100 %
= [(23 - 20)/20] x 100% = 15%

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