A company sells the product at a loss of 4%. If the S.P. of the product is Rs 48000, Find the actual loss and cost price of the product.
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Step by step instructions: let cost be X
=> cost = s.p + loss........................... 1.
=> X = 48000 + 0.04X
=>0.96X = 48000
=> X = 50000. => Loss = 2000.
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