akbar sold his gun rs 900, whichhe bought for rs 2500 find the loss
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The loss incurred by Akbar is Rs. 1600.
Given: Akbar sold his gun for Rs 900 which he had bought for Rs 2500.
To Find: The loss incurred by Akbar.
Solution:
- We know that the cost at which a commodity is bought is called its cost price (CP)
- The price at which a commodity is sold is called as selling price (SP).
- If CP is more than the SP, it is said to be a loss which is calculated as
Loss = CP - SP
- If SP is more than the CP, it is said to be a profit, which is calculated as
Profit = SP - CP
Coming to the numerical, we are given;
The CP of the gun = Rs. 2500
The SP of the gun = Rs. 900
The loss is = CP - SP = Rs. ( 2500 - 900 )
= Rs. 1600
Hence, the loss incurred by Akbar is Rs. 1600.
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