A person buys 25 kg of rice for Rs. 600 and sells them at a loss equal to the selling price of 5 kg rice. What will be the loss percentage?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 16.66%.
| Understanding/Application |
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Cost Price of 25 kg of rice = Rs.600 Cost Price of 1 kg of rice = Rs.24 Cost Price of 25 kg of rice - Selling Price of 25 kg of rice = Selling Price of 5 kg of rice Cost Price of 25 kg of rice = Selling Price of 30 kg of rice Cost Price of 25 kg of rice = Rs.600 Selling Price of 30 kg of rice = Rs.600 Selling Price of 1 kg of rice = Rs.20 |
| Loss % = [(24 - 20) × 100]/24 = 100/6 = 16.66% |