The ratio of the cost price to the selling price of an article is 7 : 3.5. What is the loss percent?
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → 50%
A ratio can be taken as actual amounts in the same proportion, and loss per cent is taken on the cost price.
Cost price \(=\) Rs 7, selling price \(=\) Rs 3.5
Loss \(=7-3.5=\) Rs 3.5
Loss % \(\displaystyle =\frac{3.5}{7}\times100=50\%\)
The article is sold at half its cost, a loss of 50%.