An article is bought for Rs. 480 and is sold for Rs. 420. If Rs. 120 is spent on its
transportation, find the loss or the gain as percent.
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Step-by-step explanation:
SP of the article is = Rs 480 and Profit = 20%
So by using the formula, CP = 100/(100+Profit%) x SP
CP = 100/(100+20) x 480
= 100/120 x 480
= Rs 400
Hence the CP of the article is Rs 400
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