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Vijay buys a cupboard for Rs. 2,500 and sells it for Rs. 2,000. Find his loss.

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Detailed Solution

Given: Cost price of the cupboard = Rs. 25,00

Selling price of the cupboard = Rs. 2,000

By using the formula,

Loss = Cost price − Selling price

= 2500 − 2000

= Rs. 500

Hence, the loss is Rs. 500.

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