# Madhu and Kavitha purchased a new house for Rs. 3,20,000. Due to some economic problems they sold the house for Rs. 2, 80,000.Find (a) The loss incurred (b) the loss percentage.

Given that, C.P of house = Rs. 3,20,000

S.P of house = Rs. 2,80,000

(a) loss = cost price – selling price

= 320000 – 280000

= 40000

The loss incurred is Rs. 40000

(b)

= 12.5

The loss percentage is 12.5%

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