Question 63
The ratio of the cost price and the selling price is 5 : 3. What is the loss percentage?
Solution
The ratio of the cost price and the selling price is 5 : 3.
Let's assume the cost price and the selling price are 5y and 3y respectively.
loss percentage = $$\frac{\left(\cos t\ price-selling\ price\right)}{\cos t\ price}\times100$$
= $$\frac{\left(5y-3y\right)}{5y}\times100$$
= $$\frac{2y}{5y}\times100$$
= 40%
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