A person sells an article at the loss of 30 percent. Cost price and selling price both are decreased by 40 percent. What will be the new loss percentage?
Show answer & explanation
Correct answer: B
Explanation
Let Cost Price = 100
Selling Price = 70
New Cost Price after 40% reduction = 60
New Selling Price = 42
Loss Percentage = (60 - 42) / 60 × 100= 30%