A defective briefcase costing Rs 800 is being sold at a loss of 8%. If the price is should be reduced by 5%, find its selling price.

Explanation

Given data:

Cost price of the defective briefcase is = Rs.` 800`

The loss percent `= 8% of 100 = 8/100`

Selling price of briefcase ` = 800 - 800×8/100`

`= Rs 736`

When the price is reduced by 5% (Given) `= 5% of 100 = 5/100`

New selling price` = 736 - 736×5/100`

`= Rs 699.2`

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