Shivani purchased five pens for ₹600. She sells these five pens at the rate of ₹50 per pen. What is the approximate loss percentage that Shivani incurred on selling the five pens?
Answer & explanation
Correct answer: option 1
Cost price of the 5 pens = 600
Selling price of 5 for 50 rupees per pen = 50 × 5 = 250
Loss% = (600 - 250) × \(\frac{100}{600}\) = 58.33%