The ratio of cost price and selling price is 15 : 14, then the loss percent is

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  1. \(16\frac{2}{3}\%\)
  2. 40%
  3. 50%
  4. \(6\frac{2}{3}\%\)

Answer (Detailed Solution Below)

Option 4 : \(6\frac{2}{3}\%\)
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Detailed Solution

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Given:

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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