A fan is sold for ₹1,560 at a profit of 30%. If its selling price is ₹960, then what will be the loss percentage?
Answer & explanation
Correct answer: option 2
Selling price = 1560
Profit = 30%
Cost price = 1560 × \(\frac{100}{130}\) = 1200
New selling price = 960
Then the loss percentage = (1200 - 960) × \(\frac{100}{1200}\) = 20%