Question
Download Solution PDFThe ratio of cost price and selling price is 15 : 14, then the loss percent is
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
The ratio of cost price (CP) and selling price (SP) is 15 : 14
Formula used:
Loss % = \(\dfrac{CP - SP}{CP} \times\) 100
Calculation:
Let CP = 15x and SP = 14x
Loss = CP - SP = 15x - 14x = x
⇒ Loss % = \(\dfrac{x}{15x} \times\) 100
⇒ Loss % = \(\dfrac{1}{15} \times\) 100
⇒ Loss % = 62/3%
∴ The correct answer is option 4.
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