A defective briefcase costing $ 800 is being sold at a loss

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

Given that , C.P. = $ 800
Loss = 8%

⇒ SP = $ 800 -	8	× 800
	100

SP = $ 800 – 64 = $ 736

Reduction 5% =	5	× 736
	100

∴ Reduced SP = $ 736 – 736 ×	5
	100

Reduced SP = $ 736 – 36.80 = $ 699.20
∴ Selling price = $ 699.20 ≈ $ 700