Question : Shivani purchased five pens for INR 600. She sells these five pens at the rate of INR 50 per pen. What is the approximate loss percentage that Shivani incurred on selling the five pens?
Option 1: 58.33%
Option 2: 48.33%
Option 3: 53.33%
Option 4: 61.66%
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Correct Answer: 58.33%
Solution : Shivani purchased five pens for INR 600 She sells these five pens at the rate of INR 50 per pen Cost Price (CP) of five pens = INR 600 CP of 1 pen = $\frac{600}{5}$ = INR 120 Selling Price (SP) of 1 pen = INR 50 Loss = CP – SP = 120 - 50 = 70 per pen Loss % = $(\frac{\text{Loss}}{\text{CP}}) \times 100$ = $\frac{70}{120} \times 100$ = $\frac{7}{3} \times 25$ = $\frac{175}{3}$ = 58.33% Loss percentage = 58.33% Hence, the correct answer is 58.33%.
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