Rashmi bought a purse for Rs. 720 and sold it for Rs. 660. Find her loss or gain per cent.

Answer

To solve the problem step by step, let's break it down:

### Step 1: Identify the Cost Price (CP) and Selling Price (SP)
- Rashmi bought the purse for Rs. 720 (Cost Price).
- Rashmi sold the purse for Rs. 660 (Selling Price).

### Step 2: Determine if there is a Loss or Gain
- Since the Cost Price (CP) is greater than the Selling Price (SP), Rashmi incurred a loss.

### Step 3: Calculate the Loss
- Loss = Cost Price (CP) - Selling Price (SP)
- Loss = 720 - 660
- Loss = Rs. 60

### Step 4: Calculate the Loss Percentage
- Loss Percentage = (Loss / Cost Price) × 100
- Loss Percentage = (60 / 720) × 100

### Step 5: Simplify the Loss Percentage Calculation
- First, simplify 60 / 720:
- 60 / 720 = 1 / 12 (by dividing both numerator and denominator by 60)

- Now, calculate the percentage:
- Loss Percentage = (1 / 12) × 100 = 100 / 12 = 8.33%

### Step 6: Convert to Mixed Fraction
- 8.33% can be expressed as a mixed fraction:
- 8.33% = 8 and 1/3%

### Final Answer
- Rashmi incurred a loss of 8 and 1/3 percent.

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