Question : Mihir buys a book for INR 625. However, because of a certain urgency, he sells it for INR 550. Find his loss percentage.
Option 1: 12%
Option 2: 14%
Option 3: 10%
Option 4: 15%
Answer (1)
13th Jan, 2024
Correct Answer: 12%
Solution :
We know, Loss percentage = $\frac{\text{Cost price−Selling price}}{\text{Cost price}}×100$
Given,
Cost price = INR 625 and selling price = INR 550
$\therefore$ Loss percentage = $\frac{625−550}{625}×100=\frac{75}{625}×100=12\%$
Hence, the correct answer is 12%.
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