Correct Answer - Option 2 : 40% loss
Given
selling price of 5 articles is equals to the cost price of 3 articles
Formula used
Profit % = \(\frac{{SP - CP}}{{CP}} × 100\)
Calculation
SP of 5 article = CP of 3 article
⇒ 5 SP = 3 CP
⇒ \(\frac{{CP}}{{SP}} = \frac{5}{3}\)
⇒ Loss = 5 - 3
⇒ 2
⇒ Loss% = \(\frac{2}{5} × 100 = 40\% \)
∴ Loss % is 40%