Question : The ratio of the selling price to the cost price is 8 : 11. What is the loss percentage?
Option 1: 33.33%
Option 2: 27.27%
Option 3: 26.66%
Option 4: 28.56%
Correct Answer: 27.27%
Solution :
Given the ratio SP : CP as 8 : 11.
Let's denote the selling price as $8x$ and the cost price as $11x$, where $x$ is a positive constant.
⇒ Loss Percentage = $\frac{(CP – SP)}{CP}×100$
= $\frac{(11x – 8x)}{11x}×100$
= $\frac{3x}{11x}×100$
= 27.27%
Hence, the correct answer is 27.27%.
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