A watch is purchased for Rs. 6000 and sold for Rs. 5500. What is the loss percentage?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is Option 3 i.e. 8.33%.
The cost price(CP) of the watch = Rs.6000
The selling price(SP) of the watch = Rs.5500
Loss = CP - SP
Loss = 6000 - 5500 = 500
Loss% = Loss/CP × 100
Loss% = 500/6000 × 100 = 8.33%
So, The loss percentage is 8.33%