Q41
ArithmeticPercentage, Profit & Loss
20% loss on selling price is what percent loss on the cost price?
- a.25%
- b.15%
- c.$16\frac{2}{3}$%
- d.$16\frac{1}{3}$%
Answer: (C) $16\frac{2}{3}$%
Take the selling price as 100; the loss is 20, so the cost price is 120. Loss on cost price = 20 ÷ 120 × 100 = $16\frac{2}{3}$%. 25% is what a 20% gain on selling price would be on cost, a different situation.