Correct Answer - Option 3 :
\(42{6\over7}\)%
Given:
The ratio of cost price to selling price = 7 ∶ 4
Formula used:
Loss % = [(C.P. – S.P.)/C.P.] x 100
Where,
C.P. → Cost price
S.P → Selling price
Calculations:
Let the cost price and selling price be 7x and 4x respectively
⇒ Loss % = [(7x – 4x)/4x] ×100
⇒ Loss % = (3x/7x) × 100 = \(42{6\over7}\)%
∴ The loss percentage is \(42{6\over7}\)%
