Question : Rima buys a chair for Rs. 1000 and sells it at a loss of 8%. What is the selling price of the chair?
Option 1: Rs. 920
Option 2: Rs. 900
Option 3: Rs. 980
Option 4: Rs. 1000
Answer (1)
24th Jan, 2024
Correct Answer: Rs. 920
Solution :
Cost price of chair = Rs. 1000
Loss = 8%
Selling price = $\frac{100- \text{Loss}\%}{100}×$ cost price
= $\frac{100-8}{100}\times1000$
= $920$
Hence, the correct answer is Rs. 920.
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