Question

A person selling 400 books at the cost price of 320 books. What is his percentage of loss is?
1. 10%
2. 15%
3. 20%
4. 25%

Answer 1

Correct Answer - Option 3 : 20%

Given:

Cost price of 320 books = Selling price of 400 books

Formula Used:

Loss% = {(C.P – S.P)/C.P} × 100

Calculation:

Let C.P of 1 book = Rs. x

C.P of 320 books = Rs. 320x

S.P of 400 books = Rs. 320x

C.P of 400 books = Rs. 400x

Loss = Rs. (400x – 320x) = Rs. 80x

Loss% = (80x/400x) × 100 = 20%

∴ Loss% is 20%