If the selling price of 50 articles is equal to the cost price of 42 articles, the what is the approximate loss or profit percentage?
Answer & explanation
Correct answer: option 2
Selling price of 50 articles is equal to the cost price of 42 articles means,
\(\frac{SP}{CP}\) = \(\frac{42}{50}\) = \(\frac{21}{25}\)
Loss = 25 - 21 = 4
Loss% = \(\frac{4 × 100}{25}\) = 16%