The selling price of 8 articles is the same as the cost price of 5 articles. The gain or loss percent is:
Answer & explanation
Correct answer: option 1
ATQ,
⇒ S.P. of 8 = C.P. of 5
⇒ C.P. : S.P. = 8 : 5
⇒ Loss = 8 - 5 = 3
⇒ Loss percentage = \(\frac{3}{8}\) × 100 = 37.5%