A vendor sells a refrigerator for a sum of money that is 19/25 of its cost price. What is his loss or profit percentage?

A vendor sells a refrigerator for a sum of money that is…

A vendor sells a refrigerator for a sum of money that is $\frac{19}{25}$ of its cost price. What is his loss or profit percentage?

Show answer & explanation

Correct answer: A

Explanation

The correct answer is Option 1 i.e. Loss, 24%.

Selling Price (SP) = $\frac{19}{25}$ × Cost Price (CP)

Loss = CP - SP

Loss = CP - $\frac{19}{25}$ × CP

Loss = $\frac{6}{25}$ × CP

Loss% = $\frac{6}{25}$ × 100 = 24%