Question
Download Solution PDFIf the cost price of an article is Rs. 100 and the selling price is Rs. 85, what is the loss percentage?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Cost price (CP) of the article = Rs. 100
Selling price (SP) of the article = Rs. 85
Formula Used:
Loss Percentage = \(\frac{CP - SP}{CP} × 100\)
Calculation:
Loss = CP - SP
⇒ Loss = 100 - 85
⇒ Loss = 15
Loss Percentage = \(\frac{15}{100} × 100\)
⇒ Loss Percentage = 15%
The loss percentage is 15%.
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