The cost price of two fans is the same. One fan is sold at a loss of 20% and the other fan is sold at loss of 60%. What will be the overall loss percentage?
Answer & explanation
Correct answer: option 1
Let the cost price of both the fans = 100
Then according to the question,
loss on first = 20%
and loss on second = 60%
then the selling price of first and second is 80% and 40% of the cost price respectively
so selling price of first = 80
selling price of the second = 40
So the loss percentage = (200 - (80+40)) × \(\frac{100}{200}\) = \(\frac{80}{200}\) × 100 = 40%