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Solutions
CP of rice = Rs.70
14 x SP - 14 x CP = 2 x CP
SP = 8 x 70/7 = Rs.80
Profit% = (10/70) x 100 = 100/7%
New profit% = 70% of 100/7 = 10%
New selling price = 110% of 70 = Rs.77
Percentage decrease in selling price = ((80 - 77)/80) x 100 = 3.75%