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Profit and Loss
A bag of rice of 40 Kgs is available with Ram. Let Ram sells 60% of the rice he has to Raju at a discount of 5% and sells the remaining rice at a profit of 7%. What is his loss percentage.
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- Let the cost price of the bag be Rs.100. Therefore price per Kg would be 100/40 = 2.5
60% of rice is sold at 5% discount and remaining 40% is sold at 7% profit.
60% of rice = (60/100) X 40 = 24Kg.
Cost Price of 24 Kg of rice = 24 X 2.5 = 60
Selling Price of 24 Kg of rice (at 5% discount) = 95/100 X 60 = 57
Cost Price of remaining 16 Kg of rice = 16 X 2.5 = 40
Selling Price of 16 Kg of rice (at 7% profit) = 107/100 X 40 = 42.8
Total selling price by Ram = 99.8
Net loss = 100 - 99.8 = 0.2
Loss percentage = Loss/CP x 100% = 0.2/100 x 100 % = 0.2%
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