Arvind purchased a wristwatch with 30% discount on the labelled

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Arvind purchased a wristwatch with 30% discount on the labelled price. He sold it with 40% profit on the price he bought. What was his per cent loss on the labelled price?

Let Marked price = $ y

∴ C.P. =	7y
	10

S.P. =		7y	×	140	=	98y
		10		100		100

∴ Loss = y –		98y	=	2y
		100		100

∴ Loss percent =	( 2y / 100 )	× 100
	y

Loss percent =	2y	× 100 = 2%
	100 × y