The ratio of the cost price and the selling price is 5 : 3. What is the loss percentage?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 40%
Concept Used :
Loss % = {(c.p. - s.p.)/c.p.} × 100
Given that, ratio of c.p. and s.p. is 5 : 3
Let the c.p. be 5x and s.p. be 3x
Loss = c.p. - s.p.
Loss = 5x - 3x = 2x
Loss percentage = (Loss/c.p.) × 100
Loss percentage = (2x/5x) × 100 = 40 %
Hence the required loss percentage is 40%.