20% loss on selling price is what percent loss on the cost price?
Answer & explanation
Correct answer: option 2
20% loss on selling price.
= \(\frac{20}{100}\)
Let us assume that Selling price = 100 , Loss = 20
and Cost price = 100 + 20 = 120
Now,
Loss percentage on Cost price
= \(\frac{20}{120}\)
= \(\frac{1}{6}\)
= 16.66%