A farmer sells his product at a loss of 8%. If his SP is 27600, what is his actual loss ? What is his cost price ?
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Let CP be x
Then, SP = x - 8% of x
=> 27600 = x - 8x/100
=> 27600 = (100x - 8x)/100
=> 2760000 = 92x
=> x = 30000 = CP
Loss = 8% of CP = 2400
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