Rohit buys an old bat for Rs. 2320 and spends Rs. 180 on its repair If he sells it for Rs 2400, then what is the loss percentage?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 4 percent.
Given that
The total cost price of the bat = 2320 + 180 = 2500
The selling price of the bat = 2400
Formula used
Loss % = × 100
Loss = 2500 - 2400 = 100
Hence, loss percentage = × 100 = 4 percent