An article is sold at a loss of 40%. The nominal amount of loss is approximately what percentage of the selling price of the article ?
Answer & explanation
Correct answer: option 1
Let cost price = 100
Loss = 40% of 100 = 40
Selling price = 100 - 40 = 60
Required percentage = \(\frac{40}{60}\) × 100 = 66.67%