A man bought an article for ₹500 and sold it for ₹400. Find his loss percentage.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e 20%.
Cost Price (CP) = ₹500
Selling Price (SP) = ₹400
Loss = CP - SP = 500 - 400 = ₹100
Loss Percentage = (Loss ÷ CP) × 100 = (100 ÷ 500) × 100 = 20%