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The selling price of 15 articles is equal to cost price of 12 articles. What is the loss% in the whole transaction?
1. 10%
2. 20%
3. 25%
4. 30%

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Correct Answer - Option 2 : 20%

Given-

Selling price of 15 articles = cost price of 12 articles

Formula Used-

Loss% = (CP - SP)/CP × 100      [where CP = Cost Price and SP = Selling Price]

Calculation-

Let selling price of each article = x

According to Question-

15x = 12 CP    [where CP = Cost Price of each article]

⇒ CP = 15x/12

Loss% = (15x/12 - x)/(15x/12) × 100

⇒ (x/4)/(5x/4) × 100

⇒ 1/5 × 100

⇒ 20%

∴ The loss% in whole transaction is 20% 

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