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A person buys a watch for ₹ 500 and sells it for ₹ 300. Find his loss per cent.

Correct Answer: 40%

Explanation:

Given that CP = ₹ 500 and SP = ₹ 300
Loss = CP - SP = 500 - 300 = ₹ 200
∴ Loss % = (Loss/CP) x 100%
= (200/500) x 100% = 40 %


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