A shopkeeper sells his goods at 60% of their cost price. Find the percent gain or losses.
Show answer & explanation
Correct answer: A
Explanation
Let the cost price = ₹100
Selling price = 60% of the cost price
SP = 100 × 60/100 = ₹60
Loss = 100 - 60 = ₹40
Loss percentage = 40/100 × 100 = 40%