A person has a loss of 20 percent on selling price. What will be his loss percentage on the cost price?
Show answer & explanation
Correct answer: C
Explanation
Let the selling price = ₹100
Loss = 20% of the selling price = ₹20
Cost price = 100 + 20 = ₹120
Loss percentage = 20/120 × 100 = 16.67%