The cost price 15 articles is equal to the selling price of 20 articles. Find the loss percentage.
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → 25%
The money spent on buying 15 articles comes back from selling 20, so the selling price of each article is less than its cost price: there is a loss, counted on the cost price.
Assuming the cost price of one article to be ₹1:
Cost price of 15 articles \(=\) ₹15 \(=\) selling price of 20 articles
Selling price of one article \(=\displaystyle\frac{15}{20}=\) ₹0.75
Loss on one article \(=1-0.75=\) ₹0.25, that is, 25% of the cost price
Shortcut:
Loss % \(=\displaystyle\frac{20-15}{20}\times100=25\%\) (the difference in the number of articles, divided by the number sold)