This is mathematical problem.The criteria is that you should use all the ten digits once.And the final answer should be equal to 1.You can use any number of operators.
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Even though it is a good solution,it does not satisfy the criteria "you should use all the ten digits once".May be i should have put only once.Anyway good thinking.
Kumaresh,
Your solution is very good and simple.
Abid,
Your solution is that of a mathematician who knows algebra.
Still there are some more ways to arrive at the answer which i will post tomorrow,if nobody posts it.