A man sold a piece of cloth for Rs 80.50 at a loss of 8 percent. What would have been gained or lost percent had it been sold for Rs 94.50 ?
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Selling Price = 80.50
Lost percent = 8
Therefore cost price = 80.50 ( 100/92)
= 87. 50
If it is sold for 94.50,
Then profit = (94.50 - 87.50) = 7
Profit percent = (7/87.50) X 100 = 8%
Lost percent = 8
Therefore cost price = 80.50 ( 100/92)
= 87. 50
If it is sold for 94.50,
Then profit = (94.50 - 87.50) = 7
Profit percent = (7/87.50) X 100 = 8%
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