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A book was sold for Rs 27.50 with a profit of 10%. If it were sold for Rs. 25.75, then would have been percentage of profit and loss ?

2% Profit
3% Profit
2% Loss
3% Loss
Explanation:

Please remember
S.P.=(((100+gain%)/100)∗C.P)
So, C.P. = ((100/110)∗25.75)
When S.P. = 25.75 then Profit=25.75−25=Re.0.75
Profit%=(0.75/25)∗100=3%
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