Shivani purchased five pens for ₹600. She sells these five pens at the rate of ₹50 per pen. What is the approximate loss percentage that Shivani incurred on selling the five pens?
Shivani purchased five pens for ₹600.
Cost price of five pens = ₹600
She sells these five pens at the rate of ₹50 per pen.
Selling price of five pens = $$50\times5$$ = ₹250
Approximate loss percentage = $$\frac{\left(cost\ price-selling\ price\right)}{cost\ price}\times100$$
= $$\frac{\left(600-250\right)}{600}\times100$$
= $$\frac{350}{600}\times100$$
= $$\frac{7}{12}\times100$$
= 58.33%
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