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Why the colour of blood is RED?

The chemical reasons for the red colour of blood are given in this solution in a simple layman's language.

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The bright red colour of blood is due the formation of a coordination compound of iron with porphyrin which is called a heme group. This group consists of an iron atom held in a heterocyclic ring, known as a porphyrin. This iron atom is the site of oxygen binding. The iron atom is ...