Rohit buys a old bat for Rs 880 and spends Rs 120 on its repairing. If he sells it for Rs 800, what is the loss percentage?
Answer & explanation
Correct answer: option 4
Total cost of the old bat = cost price + cost of repairment
= 880 + 120 = Rs 1000
Selling price = Rs 800
Loss = Total cost - Selling price = 1000 - 800 = 200
Loss% = $\frac{200}{1000}$ = 20%