An article having cost price Rs. 80 is sold for Rs. 68. The loss percent is:
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → 15%
Loss per cent is always worked out on the cost price.
Loss, cost price less selling price \(=80-68=\) Rs. 12
Loss per cent, the loss as a part of the cost price \(\displaystyle =\frac{12}{80}\times100=15\%\)
Option (3), \(17\frac{11}{17}\%\), is the loss of 12 taken as a per cent of the selling price 68, which is not how loss per cent is measured.