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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