Question 63

The ratio of the selling price and the cost price of an article is 1 : 2. What is the loss percentage?

Solution

The ratio of the selling price and the cost price of an article is 1 : 2.

Let's assume the selling price and the cost price of an article are 'y' and '2y' respectively.

loss percentage = $$\frac{cost\ price - selling\ price}{cost\ price}\times100$$

= $$\frac{2y - y}{2y}\times100$$

= $$\frac{y}{2y}\times100$$

= 50%

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