The selling price of an item inclusive of a 10% profit was ₹ 440. What would be the percentage loss if the item was sold for ₹ 370?

we know,

$$ Selling price = Cost price\times (1+Profit percentage).$$

Here,

$$Selling price= 440 rupees and Profit = 10 percent.$$

So,

$$Cost price = 440\div (1+0.10)$$

or, $$Cost price = 400.$$

$$if  he  sold  that  item  for  370 rupees, he  would  have  been  loss = (400-370)rupees=30 rupees.$$

So, 

$$ He  would  loss = ((SP-CP)\div CP)\times 100 =((-30)\div 400)\times 100= -7.5 percent$$ (negative shows the loss incurred)

So, option A is correct choice.