The selling price of 28 items is equal to the cost price of 17 items. What is the percentage of profit or loss?
Answer & explanation
Correct answer: option 1
selling price of 28 = cost price of 17
\(\frac{selling \; price}{cost \; price}\) = \(\frac{17}{28}\)
Loss% = \(\frac{11}{28}\) × 100 = 39\(\frac{2}{7}\)%