An article is sold for a loss of 40 percent. What is the ratio of the selling price of the article to the cost price of the article?
Show answer & explanation
Correct answer: A
Explanation
Given:
Loss = 40%
According to the formula:
SP = CP × (1 − Loss %)
SP = CP × (60/100)
Ratio = SP : CP = 60 : 100 = 3 : 5