A table is purchased for Rs. 8500 and sold for Rs. 8000. What is the Loss percentage?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. 5.88%.
The cost price(C.P.) of the table = Rs. 8500
The selling price(S.P.) of the table = Rs. 8000
Now,
Loss% = (C.P. - S.P.)/C.P. × 100
⇒ (8500 - 8000)/8500 × 100
⇒ 500/8500 × 100
⇒ 500/85 = 5.88%