Question : A watch is purchased for INR 3,200 and sold for INR 2,700. Calculate the percentage loss up to two places of decimal.
Option 1: 15.18%
Option 2: 15.62%
Option 3: 16.12%
Option 4: 16.50%
Answer (1)
24th Jan, 2024
Correct Answer: 15.62%
Solution :
Cost Price = INR 3,200
Selling Price = INR 2,700
Loss = Cost Price – Selling Price
= 3,200 – 2,700
= INR 500
Loss % = $\frac{\text{Loss}}{\text{Cost Price}}×100$
= $\frac{500}{3200}×100$
= 15.625%
Hence, the correct answer is 15.62%.
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